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Hi,
I’m working on Section C – Pangli Co Mar/Jun 2017, part aii).
I have checked the answers and i can’t seem to work out on how ‘Cash Received from Customers is -288350 and Cash paid to supplier is 130690’?
Thank you.
Cash paid to supplier which is 130690
Is 70% of payables so 186700 * 0.7 it says “ Pangli Co plans to pay 70% of trade payables in January 20X7 “The Cash received from customers is Nov = 40% which is 0.4 * 270,875 (as 40% paid the month after the month after because it says “ while the remaining customers take an additional month of credit”).
Then add Dec which is 60% which is 0.6 * 300,000 (paid in the month after).Hope that this helps
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