Near the end of 2011, the management of Simid Sports Co., a merchandising company, prepared the fol
Question:
Near the end of 2011, the management of Simid Sports Co., a merchandising company, prepared the fol lowing estimated statement of financial position for December 31, 2011,
Prepare a master budget for each of the first three months of 2012; include the following component budgets (show supporting calculations as needed, and round amounts to the nearest dollar):
1. Monthly sales budgets (showing both budgeted unit sales and dollar sales).
2. Monthly merchandise purchases budgets.
3. Monthly selling expense budgets.
4. Monthly general and administrative expense budgets.
5. Monthly capital expenditures budgets.
6. Monthly cash budgets.
7. Budgeted income statement for the entire first quarter (not for each month).
8. Budgeted balance sheet as of March 31,2012.n
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta