Aves International Academy Examinations

End of Month Test - YEAR 11

CANDIDATE
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Ling owns a jewellery shop. She has been advised by her bank manager to draw up a
cash-flow forecast for her business for the next three months. She is particularly
concerned about calculating her opening and closing balances for the next three
months. She has gathered together the necessary data. This is shown below. All figures
are $000s.

Cash sales: April $213,000, May $240,000, June $292,000

Purchase of stock of jewellery: April $124,000, May $151,000, June $160,000

Rent: $20,000 per month n Salaries and wages: $60,000 per month

Telephone, heating and lighting: $12,000 per month

In addition, Ling has an existing bank loan on which the monthly repayments are
$20,000 per month. On 1 April the balance in her bank account was $11,000.
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