The following information concern the ministry of local government for the last quarter of 2014 A. Foreign donor funding expected to be received in October 2014 will be GHC 500000 whiles those for November and December 2014 will be GHC 800000 each. The cash balance at the end of the third quarter 2014 was 700000 B. The fourth quarter allocation GHC 8000000 is expected to be received in October 2014 C. Payment of local purchases order of GHC 38000 issued to stationeries Ltd for supplies in august will be paid in November 2014 D. Net salaries after tax and and social social security fund çontribution for the month of October will be GHC 3000000 hills that of November and December 2014 will be increased by 20% of that October for each said month. These would be paid in the month of it relates. E. Payment of civil servants association dues GHC 140000 will be paid in November 2014 F. Purchase of vehicles of GHC 4000000 will be made in October but paid in November 2014 G. Supplementary allocation of GHC 5000000 for the last quarter will be received in December 2014 H. Maintenance of motor vehicles for October 2014 for GHC 138000 will be paid in November whiles that of November GHC 190000 will be paid in December 2014 I. Withholding tax deduction in November and October amounting GHC 300000 will be paid in December 2014 whiles that of December 2014 and January 2015 will be paid in February 2015 J. The SSF contribution for October and November totalling GHC 1250000 will be paid in December and that of December will be paid in February 2015. Required Prepare the cash budget for the ministry for the fourth quater of 2014
The following information concern the ministry of local government for the last quarter of 2014 A. Foreign donor funding expected to be received in October 2014 will be GHC 500000 whiles those for November and December 2014 will be GHC 800000 each. The cash balance at the end of the third quarter 2014 was 700000 B. The fourth quarter allocation GHC 8000000 is expected to be received in October 2014 C. Payment of local purchases order of GHC 38000 issued to stationeries Ltd for supplies in august will be paid in November 2014 D. Net salaries after tax and and social social security fund çontribution for the month of October will be GHC 3000000 hills that of November and December 2014 will be increased by 20% of that October for each said month. These would be paid in the month of it relates. E. Payment of civil servants association dues GHC 140000 will be paid in November 2014 F. Purchase of vehicles of GHC 4000000 will be made in October but paid in November 2014 G. Supplementary allocation of GHC 5000000 for the last quarter will be received in December 2014 H. Maintenance of motor vehicles for October 2014 for GHC 138000 will be paid in November whiles that of November GHC 190000 will be paid in December 2014 I. Withholding tax deduction in November and October amounting GHC 300000 will be paid in December 2014 whiles that of December 2014 and January 2015 will be paid in February 2015 J. The SSF contribution for October and November totalling GHC 1250000 will be paid in December and that of December will be paid in February 2015. Required Prepare the cash budget for the ministry for the fourth quater of 2014
Chapter21: International Cash Management
Section: Chapter Questions
Problem 3BIC
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The following information concern the ministry of local government for the last quarter of 2014
A. Foreign donor funding expected to be received in October 2014 will be GHC 500000 whiles those for November and December 2014 will be GHC 800000 each. The cash balance at the end of the third quarter 2014 was 700000
B. The fourth quarter allocation GHC 8000000 is expected to be received in October 2014
C. Payment of local purchases order of GHC 38000 issued to stationeries Ltd for supplies in august will be paid in November 2014
D. Net salaries after tax and and social social security fund çontribution for the month of October will be GHC 3000000 hills that of November and December 2014 will be increased by 20% of that October for each said month. These would be paid in the month of it relates.
E. Payment of civil servants association dues GHC 140000 will be paid in November 2014
F. Purchase of vehicles of GHC 4000000 will be made in October but paid in November 2014
G. Supplementary allocation of GHC 5000000 for the last quarter will be received in December 2014
H. Maintenance of motor vehicles for October 2014 for GHC 138000 will be paid in November whiles that of November GHC 190000 will be paid in December 2014
I. Withholding tax deduction in November and October amounting GHC 300000 will be paid in December 2014 whiles that of December 2014 and January 2015 will be paid in February 2015
J. The SSF contribution for October and November totalling GHC 1250000 will be paid in December and that of December will be paid in February 2015.
Required
Prepare the cash budget for the ministry for the fourth quater of 2014
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