Rivolli Limited needs a cash budget for the month of November. The following inf

Question

Rivolli Limited needs a cashbudgetfor the month of November. The following information is available:

Prepare a cash budget for Rivolli Limited for the month of November. If an amount is zero, enter "0". Enter all amounts as positive numbers.

Prepare a cash budget for Rivolli Limited for the month of November. If an amount is zero, enter "0". Enter all amounts as positive numbers.

Rivolli Limited Cash Budget November Cash receipts: Cash payments: General expenses Purchases Office furniture Sales commissions Total cash payments Change in cash Beginning cash Borrowing Repayments Ending cash

Explanation / Answer

Cash receipts                                       $70,000
Sales
October    80,000 x 65%    $52,000
November 60,000 x 30%   $18,000

Cash payments :
General expenses                                 $23,200

Purchases                                            $34,900
October     29,800 x 50%    $14,900
November 40,000 x 50%    $20,000

Office furniture                                     $4,000
Sales Commissions                              $11,700

Change in cash                                     -$3,200
Beginning cash                                      $5,800
Borrowings                                            $1,400
Repayments                                                  0
Ending cash balance                                $4,000

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