Please help find the following...Thank you so much! Sales Budget Total budgeted
ID: 2469739 • Letter: P
Question
Please help find the following...Thank you so much!
Sales Budget
Total budgeted sales:
Inventory, Purchases, and Cost of Goods Sold Budget
Cost of goods sold:
Plus: Desired ending merchandise inventory:
Total merchandise inventory required:
Less:Beginning merchandise inventory
Budgeted Purchases:
Selling and Administrative Expense Budget:
Variable expenses:
Miscellaneous expense:
Fixed expenses:
Salaries expense:
Depreciation expense:
Total fixed expenses:
Total selling and administrative expenses:
Budgeted Cash Receipts from Customers
Current month sales, 65%:
Prior month sales, 35%
Total cash receipts:
Budgeted Cash Payments for Selling and Administrative Expenses
Variable expenses:
Miscellaneous expenses:
Fixed expenses:
40% of current month's salaries expense:
Total payments for selling and administrative expenses:
Cash Budget:
Beginning cash balance:
Cash receipts from customers:
Cash available:
Cash payments:
Purchases of merchandise inventory:
Selling and administrative expenses:
Capital expenditures:
Payments for dividend:
Total cash payments:
Ending cash balance:
Budgeted Income Statement
Sales Revenue:
Cost of Goods Sold:
Gross Profit:
Selling and Administrative Expenses:
Miscellaneous Expense:
Salaries Expense:
Depreciation Expense:
Total Selling and Administrative Expenses:
Net income (loss):
Budgeted Balance Sheet
April 30, 2016
Assets
Current Assets:
Cash
?
Accounts Receivable
?
Merchandise Inventory
Total Current Assets
?
Property, Plant, and Equipment
Equipment and Fixtures
?
Less: Accumulated Depreciation
(?)
?
Total Assets
?
Liabilities
Current Liabilities:
Accounts Payable
?
Salaries Payable
?
Total Liabilities
?
Stockholders' Equity
Common Stock
?
Retained Earnings
?
Total Stockholders' Equity
?
Total Liabilities and Stockholders' Equity
?
Budgeted Statement of Cash Flows
For the Month Ended April 30, 2016
Operating Activities:
Cash receipts from customers
?
Cash payments for purchases
(?)
Cash payments for selling and administrative expenses
(?)
Net cash provided by (used by) operating activities
?
Investing Activities:
Cash payments for equipment purchases
(?)
Net cash provided by (used by) investing activities
(?)
Financing Activities:
Cash payment of dividends
(?)
Net cash provided by (used by) financing activities
(?)
Net increase (decrease) in cash
(?)
Cash balance, April 1, 2016
?
Cash balance, April 30, 2016
?
Budgeted Balance Sheet
April 30, 2016
Assets
Current Assets:
Cash
?
Accounts Receivable
?
Merchandise Inventory
?Total Current Assets
?
Property, Plant, and Equipment
Equipment and Fixtures
?
Less: Accumulated Depreciation
(?)
?
Total Assets
?
Data Table Box Printing Supply Balance Sheet March 31, 2016 Assets Current Assets: Cash Accounts Receivable Merchandise Inventory Total Current Assets $ 51,100 13,200 12,600 $ 76,900 Property, Plant, and Equipment: 81,300 Equipment and Fixtures Less: Accumulated Depreciation (12,100) 69,200 Total Assets $ 146,100 Liabilities Current Liabilities Accounts Payable $ 8,000 Stockholders' Equity Common Stock, no par $42,000 Retained Earnings 96,100 Total Stockholders' Equity 138,100 Total Liabilities and Stockholders' Equity $146,100 More Info a. April dividends of $2,000 were declared and paid b. April capital expenditures of $16,500 budgeted for cash purchase of equipment. C. April depreciation expense, $200 d. Cost of goods sold, 40% of sales Desired ending inventory for April is $26,900 April selling and administrative expenses include salaries of $32,000, 25% ofwhich will be paid in cash and the remainder paid next month Additional April selling and administrative expenses also include miscellaneous expenses of 5% of sales, all paid in April April budgeted sales. $87,000, 50% collected in April and 50% in May April cash payments of March 31 liabilities incurred for March purchases of inventory $8,000 April purchases of inventory, $11,500 for cash and $37,600 on account. Half the credit purchases will be paid in April and half in May e. f. g. h. i. j.Explanation / Answer
For budgeted balance sheet and cash flow just input the values from the calculations and you will be able to find the balance sheet and cash flow amounts.
Sales Budget Budgeted sales in april $ 87,000 Inventory, Purchases, and Cost of Goods Sold Budget cost of goods sold 40% of sales $ 34,800 Plus desired ending merchandise Inventory $ 26,900 Total Merchandise inventory required $ 61,700 Less: Beginning Merchandise invenotory $ 12,600 Budgeted purchase $ 49,100 Selling and Administrative Expense Budget: Variable expenses: Miscellaneous expense: $ 4,350 Fixed expenses: Salaries expense: $ 32,000 Depreciation expense: $ 200 Total fixed expenses: $ 16,500 Total selling and administrative expenses: $ 48,700 Budgeted Cash Receipts from Customers Current month sales, 65%: $ 56,550 Prior month sales, 35% $ 4,620 Total cash receipts: $ 61,170 Budgeted Cash Payments for Selling and Administrative Expenses Variable expenses: $ 4,350Related Questions
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