Leadership & Management

Skyway

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Skyway
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  Skyway Bhd. is in preparation for the quarterly cash budget, the following revenue and cost information have been compiled. Prepare and evaluate a cash budget for the months of October, November, and December based on the information shown below. Month Sales Purchases August (actual) $3,000,000 $3,500,000 September (actual) $4,500,000 $2,000,000 October (forecast) $1,000,000 $ 500,000 November (forecast) $1,500,000 $ 750,000 December (forecast) $2,000,000 $1,000,000 - The firm collects 60% of sales for cash and 40 percent of its sales one month later. - Interest income of $50,000 on marketable securities will be received in December. - The firm pays cash for 40% of its purchases. - The firm pays for 60% of its purchases the following month. - Salaries and wages amount to 15% of the preceding month's sales. - The firm pays sales commission’s amount to 2% of the preceding month's sales. - Lease payments of $100,000 must be made each month. - A principal and interest payment on an outstanding loan is due in December of $150,000. - The firm pays dividends of $50,000 at the end of the quarter. - Fixed assets costing $600,000 will be purchased in December. - Depreciation expense each month of $45,000. - The firm has a beginning cash balance in October of $100,000 and maintains minimum cash balance of $200,000.  Cash flow statement for the year ending 31 December 2012  Cash flow from operating activities: Less Loss (2, 000) Depreciation 32, 200 Decrease in Account Receivable 8, 800 Increase in Inventory (60, 700) Total cash flow from operating activities (21, 700) Cash flow from investing activities: Increase in Net Capital Expenditure (60, 000) Total cash flow from investing activities (60, 000) Cash flow from financing activities: Dividend (15, 000) Increase in Notes Payable 104, 700 Increase in Preferred Stock 5, 000 Decrease in Common Stock (25, 200) Total cash flow from financing activities 69, 500 Decrease in Cash -12, 200 Attachment : No file attach...   The consolidated balance sheets of fiza”s sdn bhd. Are presented below for year ended 2010 and 2011. During 2011 the company earned RM650,000 after taxes and incurred RM110,000 depreciation expenses. Prepare a statement of cash flow for the year 2011. (12 marks) BALANCE SHEET AS AT DECEMBER 31, 2010 & 2011(‘000)   2011  Cash and bank balances 330 Accounts receivable 2725 Inventories 2925 Total Current Assets   5980  Property, plant and equipment 2265 Total Assets   8245  Accounts payable 660 Short term debt 52 Accrued liabilities Other current liabilities 825 680 Total Current Liabilities   2217  Long-term borrowings (unsecured) 1580 Deferred taxes 283 Total Liabilities   4,080   Shareholders’ equity  190 Additional paid in capital 1,755 Retained Earnings total shareholders’ equity  2,220 4,165   Total Liabilities & Shareholders' Equity   8,245    Fiza sdn bhd Statement of cash flow for the year ended 2011 cash flow from operating activities RM RM net income 650 deprecaition 110 account receivables -545 inventory -865 account payable 205 accrued liability 25 other current liabilities 50 -370 cash flow from investnent activities fixed assets -775 -775 cash flow from financing activities dividend -70 long term debt 70 deferred taxes 85 equity 6 short term debt 14 paid in capital 80 185 net decrease in cash -960  The consolidated balance sheets of fiza”s sdn  bhd. Are presented below for year ended 2010 and 2011. During 2011 the company earned RM650,000 after taxes and incurred RM110,000 depreciation expenses. Prepare a statement of cash flow for the year 2011. (12 marks) BALANCE SHEET AS AT DECEMBER 31, 2010 & 2011(‘000)   2011  Cash and bank balances 330 Accounts receivable 2725 Inventories 2925 Total Current Assets   5980  Property, plant and equipment 2265 Total Assets   8245  Accounts payable 660 Short term debt 52 Accrued liabilities Other current liabilities 825 680 Total Current Liabilities   2217  Long-term borrowings (unsecured) 1580 Deferred taxes 283 Total Liabilities   4,080   Shareholders’ equity  190 Additional paid in capital 1,755 Retained Earnings total shareholders’ equity  2,220 4,165   Total Liabilities & Shareholders' Equity   8,245  
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