Accounting Business Reporting for Decision Making

50 Accounting: Business Reporting for Decision Making

5.2.4 Owner’s personal expenses (All figures are in Australian dollars)

Murphy Recruiting Pty Ltd

OWNER’S PERSONAL EXPENSES: KEVIN MURPHY

for the period July 2015 to June 2016

Jul.

Aug.

Sep.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

Jun.

TOTAL

Monthly commitmentsFood

$

400

$

400

$

400

$

400

$

400

$

400

$

400

$

400

$

400

$

400

$

400

$

400

$

4 800

Health

100

100

100

100

100

100

100

100

100

100

100

100

1 200

Clothes

80

80

80

80

80

400

Entertainment

200

200

200

200

200

200

200

200

200

200

200

200

2 400

Transport

120

120

120

120

120

120

120

120

120

120

120

120

1 440

Education

0

House payments

3 400

3 400

3 400

3 400

3 400

3 400

3 400

3 400

3 400

3 400

3 400

3 400

40 800

Car payments

0

Other loan repayments

0

Telephone

100

100

100

100

400

Electricity and gas

120

120

120

120

480

Rates

1 300

1 300

Personal income tax

900

900

900

900

900

900

900

900

900

900

900

900

10 800

Credit cards

100

100

Other

100

100

100

100

100

100

100

100

100

100

100

100

1 200

Monthly drawings needed

*

$

5 400

$

5 340

$

6 700

$

5 220

$

5 340

$

5 400

$

5 220

$

5 340

$

5 400

$

5 220

$

5 340

$

5 400

$65 320

*Shown as ‘Staff — director’s wages’ in cash flow forecast