expenses budgey for year ended 30 june 2020

Y/1e 30 june Y/E 30june

2019 % change deductions 2020
sales commisions $ 350,000.00 5% $ 17,500.00 $ 332,500.00 5%
consultancy fees $ 136,000.00 5% $ 6,800.00 $ 129,200.00 3%
wages $ 482,000.00 3% $ 14,460.00 $ 496,460.00
telephone $ 16,000.00 5% $ 800.00 $ 15,200.00
stationary $ 11,000.00 5% $ 550.00 $ 11,550.00
repairs $ 9,600.00 $9,600
total $ 1,004,600.00 $ 994,510.00

y
 annual hours = 10x35x48 = 16800

time spent on each tye in total taxreturn hours

individuals 10080 individuals 2
partnerships 5040 partnerships 3
companies 1680 companies 4
(b) returns per annnum
individuals 5040
partnerships 1680 next year number / QTR
companies 420 individuals 1260
© charge per return partnerships 420
individuals $ 160 companies 105
partnerships $ 300 total 1785
companies $ 800
(d) income for year
individuals $ 806,400
partnerships $ 504,000
companies $ 336,000
totals $ 1,646,400
time spent change perhours
60% 80
30% 100
10% 200

change increase number revenue

5% 1323 $ 211,680
10% 462 $ 138,600
15% 120.75 $ 96,600
1905.75 $ 446,880
 july august september
sales 122000 104000 161000
less;cogs 30000 36000 48000
opening inventory 18000 26000 22000
add; purchases 38000 32000 56000
goods available for sales 56000 58000 78000
less closing inventoy 26000 22000 30000
gross profit 92000 68000 113000
add other income 800 1400
total operating income 92000 68800 114400
less expenses 22600 26200 36200
marketing 16000 18000 24000
administration 2400 4300 5800
financial 4200 3900 6400
net profit before tax 69400 42600 78200
sales budget
jan feb march april may june total
total sales 5500 5600 5650 5820 5900 6100 17820
cash sales 4400 4480 4520 4656 4720 4880 14256
credit sales 1100 1120 1130 1164 1180 1220 3564

purchases budget april may june total

cost of sales for the month 3423 3470 3588 10482
add ending inventories 694 718 729 2141
goods available 4118 4188 4317 12623
less opening inventories 700 694 718 2112
total purchases 3418 3494 3599 10512

cost of good sold budget

add purchases april may june total
opening stocks 700 694 718 685
add purchases 3418 3494 3599 10526
good available 418 4188 4317 11211
less closing stocks 694 718 729 79
cost of good sales 3424 3470 3588 10482

interest revenue budget

april may june total
interest 10 10 10 30

exepenses budget
april may june total
marketing
marketing cost 349.2 354 366 1069
P+E 500 500 500 1500
total 849.2 854 866 2569
administration expenses
rent 600 600 600 1800
admin expense 410 419 432 1261
office supplies 208 208 208 624
total 1218 1227 1240 3687
financial expenses
interest in 62.5 62.5 62.5 187.5
total expenses 2130 2144 2169 6442
20% cash receipts
40% april may june total
10% collections \
month 1 565 582 590 1737
month 2 448 452 466 1366
month3 110 112 113 335
cash sales 4656 4720 4880 14256
interest revenue 10 10 10 30
total cash receipts 5789 5876 6059 17724
accounts receivable 1800 1841 1875 1800
accounts receivable 1841 1875 1926 1926

cash budget
april may june
openig balance 10000 11639 12661
add cash receipts 5789 5876 6039
cash available 15789 17515 18720
less cash payments 4150 4854 4955
closing bank balance 11639 12661 13765

budgeted income statement for the quarter ending 30 june

sales 17820
less cost of sales 10482

gross profit 7338

add other operating income
interest + revenue 30
total operating income 7368

less expenses
marketing 2569
administartion 3685
financial 189
6443 6443
net profit 925

7368
budgeted balance sheet as june 30
current assets
bank 13765
AR 1926
closing inventory 729 16420
non current assets
plant and equipement 40000
less accum depn 13500
office equip 25000
less accum depn 11625 39875
total assets 56295

current liabilities
accounts payable 3600
non curreny liabilities
loan 15000
total liabilities 18600
net assets 37695

owners equity

capital 36772
net profit 925 37697