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Accounting Problem Please Assist

CASE STUDY 1 – Company “xyz Ltd” Company xyz Ltd commences trading on 1st June with a capital of £240,000. The following estimates have been made:
(a) Plant and equipment costing £160,000 will be purchased and installed prior to commencement of the business. The plant and equipment is payable in June and will be depreciated on a straight line basis over eight years with no expected disposal value.
(b) On 1st June an initial stock of goods will be purchased for £96,000 payable in July. All goods sold from 1st June will be replaced immediately. Purchases will be on two months credit.

(c) Gross profit will be 331/3% on the cost of goods.

(d) Forecast sales for the first three months are:
- June £92,000; July £108,000 & August £124,000
- Sales is on credit payable in the month following sale

(e) Rent and rates of £32,000 for twelve months from 1st June is payable in July.

(f) Wages and other overheads commencing in June are estimated at £24,000 per month. 50% will be paid in the month incurred with the balance payable in the following month.
Question8: Prepare the report on -
(a) A cash budget for each of the three months June, July and August.
(b) A budgeted Profit and Loss Account for the three months in total.
(c) A budgeted BALANCE SHEET at 31st August.