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MOD003319: Prepare a Cash Budget for the Three Months Ending 31 March 2022 and Anton invested £10,000 cash in the business on 1 January 2022: Business Finance Assignment, ARU, UK
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University | Anglia Ruskin University(ARU) |
---|---|
Subject | MOD003319: Business Finance |
TASK 1
For each transaction, decide whether it should be included in the cash budget for the business;
Prepare a cash budget for the three months ending 31 March 2022.
1. Anton invested £10,000 cash in the business on 1 January 2022.
2. Anton plans to make drawings of £800 per month for each personal expenditure.
3. Anton purchases a computer for his personal use at a cost of £499 in January.
4. Anton also purchased a computer in January for business purposes at a cost of £720 cash.
5. He plans to buy a motor vehicle for £3,200 cash on 1 March, for business purposes.
6. Sales estimates are as following:
January = £4,200
February = £ 3,200
March = £2,950
7. Sales are made 30% cash and 70% on one months’ credit.
8. Purchases will be made for cash as follows:
January = £ 2,800
February = £1,500
March = £1750
9. Other expenses are estimated as follows:
• Electricity £285 payable at the end of the quarter.
• Telephone costs of £120 per month, payable at the end of each month by cash.
• Fuel cost for motor vehicle estimated to be £65 per month, payable in the same month.
TASK 2
2.1 What is Accounting Equation and explain why the accounting equation will always work? Also, provide an example with your explanation.
2.2 What benefits might a company gain from having its shares listed on a stock exchange?
2.3 Who do you think might be considered to be stakeholders in a large listed company like Marks and Spenser?
2.4 Is the profit that a business makes a reliable indicator of its cash balances? What are the differences between Profit and Cash?
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