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kindly given the example of contingent liabilities.
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Answer Posted / y.seshamurthy
The Term Contingent Liability Refers to The obligatory to
pay to liability may or may not arise. The best example is
bank guarantee issued to some third parties towards
fulfilment of some contractual obligations, if the contract
obligation is met the company has no liability to pay to
damages otherwise it has to pay the damages.
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From the following information you are to prepare a Cash Budget for the period from July to December 2008. (i) The estimated sales and expenses are as follows: June July Aug. Sep. Oct. Nov. Dec. Sales 35,000 40,000 40,000 50,000 50,000 60,000 65,000 Purchases 14,000 16,000 17,000 20,000 20,000 25,000 28,000 Wages & Salaries 12,000 14,000 14,000 18,000 18,000 20,000 22,000 Expenses 5,000 6,000 6,000 6,000 7,000 7,000 7,000 Interest Received 2,000 - - 2,000 - - 2,000 Sale of Fixed Assets - - 20,000 - - - - (ii) Sales are 20% in cash and balance on credit. 50% of the debtors are collected in the month of sales and the remaining in the next month. (iii) The time lag in payment of purchases and expenses is 1 month. However, wages and salaries are paid fortnightly with a time lag of 15 days. (iv) The company maintains a minimum cash balance of Rs. 5,000. The cash balance in excess of Rs. 7,000 is invested in government securities in multiples of Rs. 1,000. Short falls in cash balance are made good by borrowing from banks. The interest received as well as paid is to be ignored.
hi this is sharath,from hassan ,karnataka.,., i am caled for t interv on 28th may 2009, 12 noon, at foll location.,. STATE BANK OF MYSORE STAFF TRAINING CENTRE 104/105 7TH MAIN ROAD JAYALAKSHMIPURAM MYSORE-570012. anybody who is also attendin the same interview please reply me .,.,. i am in my final yr BE EnC,MCE hassan, i wold like to know more about the interview .,., please do reply.,.,. yours friendly, sharath kumar, sharath.syss@gmail.com
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