i yates cash budget for six months ended 30 june 2018 611311

I Yates Cash budget for six months ended 30 June 2018
	Jan Don't use plagiarized sources. Get Your Custom Essay on i yates cash budget for six months ended 30 june 2018 611311 Get an essay WRITTEN FOR YOU, Plagiarism free, and by an EXPERT! Just from $10/Page Order Essay	Feb	Mar	Apr	May	Jun
	£	£	£	£	£	£
Cash inflows
Receipts from	11,000	15,000	24,000	29,000	34,000	34,000
trade receivables
Rent received	400			400
Total inflows	11,400	15,000	24,000	29,400	34,000	34,000
Cash outflows
Payments to trade payables	9,000	12,000	18,000	20,000	26,000	28,000
Wages and salaries	2,400	2,400	2,400	2,400	2,400	2,400
Insurance	100	100	100	100	100	100
Overheads	300	300	300	300	300	300
Drawings	500	500	500	500	500	500
Equipment			6,000
Total outflows	12,300	15,300	27,300	23,300	29,300	31,300
Net cash flow	(900)	(300)	(3,300)	6,100	4,700	2,700
Opening balance	4,750	3,850	3,550	250	6,350	11,050
Closing balance	3,850	3,550	250	6,350	11,050	13,750

Points to note:

•The opening balance of cash at the start of January is taken from the balance sheet’s cash at bank figure. The closing balance will then appear on the budgeted balance sheet as at 30 June.

•The receipts from trade receivables for January will be December’s sales as seen on the balance sheet as at 31 December 2017.

•Likewise, the payment for trade payables in January will be found on December’s balance sheet.

•The sales and purchases figures for June will not appear in the cash budget but will appear as trade receivables and trade payables on the balance sheet as at 30 June.

•Drawings appear in the cash budget but not in a budgeted profit and loss account.

The forecast set of final accounts willbe.

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