Prepare a master budget for a merchandising company, for the three-month ending period ending June 30. Include all required schedules and budgets including pro forma financial statements ?

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Number Font Alignment Cipboard Sign In () SIGN IN TO OFFICE It looks lilke your stored credentials are out of date. Please sign in as so we can verify your subscription. 09 H. K 1 Data Sheet 2. 17.00 AN sales are made on acrount Balance Sheet at March 31st 3 Selling price per widget 4. Assets 5 Widgets sold (actual and budgeted): 6 January tactual) Z February (actual) 8 March (actual) 9 April (budget) 10 May (budget) 53,600 Cash $ 92,000 June (budget) 25,600 29,600 33,600 Accounts receivable luly (budget) August (budget) September (budget 50,320 31,600 28,600 43,600 February sales 68.600 March sales 592,960 643,280 103,600 Inventory 159,152 Prepaid insurance 33,600 11 Property & equipment (net) 1,130,000 12 Ending Inventory 13 40% of widgets to be sold in the following manth Total assets $2,058,032 5.80 Al purchases are made on account 14 Cost per widget 15 16 Payments for merchandise (widgets) 17 Month of purchase 18 Following month Liabilities & Stackholders" Equity Cash collections of sales on account Accounts payable S 155,440 50% Month of sale 20% Dividends payable 28,500 50% Following month 70% Common stock 1,160,000 19 Second month 10% Retained earnings 714,092 Total liabilities & stackholders' equiti 52.058. 032 20 Monthly operating expenses: 21 Variable 22 Sales commissions 23 Fixed 4% of sales 24 Advertising 25 Rent S 380,000 S 36,000 S 142,000 26 Salaries 27 Utilities S 16,000 28 Insurance 29 Depreciation 4,800 IThe insurance premium is paid on an annual basis, in November of each year) $ 32,000 30 31 Planned equipment cash purchases: 32 May 33 June $ 25,000 S 58,000 34 35 Dividends declared per quarter (payable in the first month of the following quarter $28,500 36 37 Mininum cash balance: S68,00 38 38 39 Borrowing increments: $1,000 All borrow ing occurs at the beginning of the month as needed. 40 Interest rate per month: 1% simple interest Any money borrawed, as well as the interest due is paid back on the last day of the quarter. When repaying ar 41 you can not go below your minimum cash balonce 42 43 Dudget Data Data Sheet Sales Budget P Type here to search DELL Esc F1 F2 E3 F4 F5 F6 F7 44 # $ % 2 Number Font Alignment Cipboard Sign In () SIGN IN TO OFFICE It looks lilke your stored credentials are out of date. Please sign in as so we can verify your subscription. 09 H. K 1 Data Sheet 2. 17.00 AN sales are made on acrount Balance Sheet at March 31st 3 Selling price per widget 4. Assets 5 Widgets sold (actual and budgeted): 6 January tactual) Z February (actual) 8 March (actual) 9 April (budget) 10 May (budget) 53,600 Cash $ 92,000 June (budget) 25,600 29,600 33,600 Accounts receivable luly (budget) August (budget) September (budget 50,320 31,600 28,600 43,600 February sales 68.600 March sales 592,960 643,280 103,600 Inventory 159,152 Prepaid insurance 33,600 11 Property & equipment (net) 1,130,000 12 Ending Inventory 13 40% of widgets to be sold in the following manth Total assets $2,058,032 5.80 Al purchases are made on account 14 Cost per widget 15 16 Payments for merchandise (widgets) 17 Month of purchase 18 Following month Liabilities & Stackholders" Equity Cash collections of sales on account Accounts payable S 155,440 50% Month of sale 20% Dividends payable 28,500 50% Following month 70% Common stock 1,160,000 19 Second month 10% Retained earnings 714,092 Total liabilities & stackholders' equiti 52.058. 032 20 Monthly operating expenses: 21 Variable 22 Sales commissions 23 Fixed 4% of sales 24 Advertising 25 Rent S 380,000 S 36,000 S 142,000 26 Salaries 27 Utilities S 16,000 28 Insurance 29 Depreciation 4,800 IThe insurance premium is paid on an annual basis, in November of each year) $ 32,000 30 31 Planned equipment cash purchases: 32 May 33 June $ 25,000 S 58,000 34 35 Dividends declared per quarter (payable in the first month of the following quarter $28,500 36 37 Mininum cash balance: S68,00 38 38 39 Borrowing increments: $1,000 All borrow ing occurs at the beginning of the month as needed. 40 Interest rate per month: 1% simple interest Any money borrawed, as well as the interest due is paid back on the last day of the quarter. When repaying ar 41 you can not go below your minimum cash balonce 42 43 Dudget Data Data Sheet Sales Budget P Type here to search DELL Esc F1 F2 E3 F4 F5 F6 F7 44 # $ % 2

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Sales Budget For the Quarter Ended June 30 April May ... View the full answer