Question
Cash Flow Budgeting
Using the following information complete the cash flow budget for the months of January, February and March. Be sure to include GST in the rows provided. GST at the end of December 2006 was negative $2500. The cumulative balance in December was $20,234.
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Month
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Jan
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Feb
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Mar
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Income
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Steers
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$35,000
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Wheat sales
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$82,500
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Salary for silo work
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$2,000
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$2,000
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$2,000
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Expenses
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Replacement bull
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$1,600
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Animal health
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$206
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Calf transfers
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$3,300
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Chemical
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$8,320
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Rates
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$1,300
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Fuel and oil
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$12,850
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School fees
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$2,800
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telephone
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$300
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wages
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$2,689
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$2,689
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$2,689
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electricity
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$400
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Fencing materials
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$5,000
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R & M machinery
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$550
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$550
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$550
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stationary
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$7
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$7
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$7
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R & M building
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$142
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$142
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$142
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Bank chargers
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$130
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Cash flow budget 6006 -2007
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Dec-06
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Jan-07
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Feb-07
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Mar-07
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income
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GST
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Total income
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expenses
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GST
GST Liability
Net cash flow
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Cumulative balance
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