You can use this worksheet to help you to compute your answers for the Activity questions.

Note:
• Click the link shown under each question in Seminar 6 Tutor_ACC203.pdf notes.
• Only 1 submission can be made
• To earn participation marks, student must be present in class, use your SUSS email & submission must be made within 7pm – 10pm of
the relevant F2F session.
• For group discussion, click “Group Discussion Questions” to upload files.
Activity 6 Question 1 – Question 3
Fill up the boxes; ignore the shaded areas
Question 1
(a) Computing the cash receipts for the month of April, May and June
W1
March April May June
Budgeted Credit sales A= B= C= D=
20% same month 1= 2= 3= 4=
80% following month 5= 6= 7=
Budgeted Cash sales E= F= G= H=
Receipts from sales of old equipment I=
Total cash receipts 8= 9= 10= 11=
Copy A to D (credit sales), E to H (cash sales) and I (proceeds from sales of equipment) from the question.
Compute 1 – 11
Notes: 1= A x 20% 2= B x 20% 3= C x 20% 4= D x 20%
5= A x 80% 6= B x 80% 7= C x 8-%
8= 1 + E 9= 2 + 5 + f + I 10= 3 + 6 + G 11= 4 + 7 + H
(b) Computing the cash disbursements for the costs of goods sold
W2
March April May June
Budgeted credit sales A= B= C= D=
Budgeted cash sales E= F= G= H=
Total Budgeted sales 1= 2= 3= 4=
Budgeted COGS 5= 6= 7= 8=
40% same month 9= 10= 11= 12=
60% following month 13= 14= 15=
Payments for COGS 16= 17= 18= 19=
Copy A – H from the question
Notes: 1= A+E 2= B + F 3= C + G 4= D + H
5= 70% x 1 6= 70% x 2 7= 70% x 3 8= 70% x 4
9= 40% x 5 10= 40% x 6 11= 40% x 7 12= 40% x 8
13= 60% x 5 14= 60% x 6 15= 60% x 7
16= 9 17= 10 + 13 18= 11 + 14 19= 12 + 15
Question 2
Compute payment for operating expenses
W3
April May June
Operating expenses 1
Operating expenses 2
Operating expenses 3
Operating expenses 4
Operating expenses 5
Total 20 = 21= 22=
Add total payments of operating expenses for each month and complete 20, 21, 22
Compute total cash payments
W4
April May June
Payments for COGS (W2) 17= 18= 19=
Payments for operating expenses (W3) 20 = 21= 22=
Payment for new equipment J=
Total cash payments 23= 24= 25=
• Copy from W2, 17, 18 and 19
• Copy from W3, 20, 21 and 22
• Copy J from the question

Question 3
Prepare Cash Budget
April May June
Beginning cash balance K= 32= 35=
Add receipts from customers (W1) 9-I= 10= 11=
receipts from sales of old equipment (W1) I=
Less payments for COGS (W2) 17= 18= 19=
payments for operating expenses (W3) 20 = 21= 22=
payment of new equipment (W4) J=
Net cash receipts and payments for the month 26= 27= 28=
Preliminary ending cash balance 30= 33= 36=
Borrowing/(repayment) 31= 34= 37=
Ending cash balance 32= 35= 38=

Copy K from the question, 9, 10,11, I from W1; 17, 18,19 from W2; 20, 21, 22 from W3; J from W4
Notes: 26, 27, 28 = sum of receipts and payments for each month
30= K + 26 33= 32 + 27 36= 35 + 28
32= 30 + 31 35= 33 + 34 38= 36 + 37