Answer to Question #79540 in Finance for Luke Nash

Question #79540
Part 1
You have been asked by the owner of a new consultancy called Voyager to prepare the master budget. The consultancy consists of the owner who charges out at $68 per hour and the junior staff who are charged out at $42 per hour. The owner has advised you that the following hours are forecast for each quarter.

The consultancy has a credit system of payments with 60% of payment received the quarter in which they are earned and the remaining 40% earned the following month. The opening accounts receivable is $13,200 incl GST. The GST is accounted for on an accrual basis.

Prepare a quarterly revenue receipts forecast and cash collections forecast for the next financial year.
1
Expert's answer
2018-08-05T08:12:50-0400
Dear Luke Nash, your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order

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