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Thornton Company, which expects to start operations on January 1, year 2, will sell digital cameras in shopping malls. Thornton has budgeted sales as indicated in the following table. The company expects a 14 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March. Required a. Complete the sales budget by filling in the missing amounts. b. Determine the amount of sales revenue Thornton will report on its first quarter pro forma income statement. Complete this question by entering your answers in the tabs below. Required A Required B Complete the sales budget by filling in the missing amounts. (Do not round intermediate calculations. Round final answers to two decimal places.) Sales February March Cash sales S January 33,000 $ 103,000 Sales on account Total budgeted sales $ 136,000 $ Required B > 37,620.00 117,420.00 155,040.00 $ Required A 0.00 Stuart Company sells lamps and other lighting fixtures. The purchasing department manager prepared the following inventory purchases budget. Stuart's policy is to maintain an ending inventory balance equal to 20 percent of the following month's cost of goods sold. April's budgeted cost of goods sold is $82,000. Required a. Complete the inventory purchases budget by filling in the missing amounts. b. Determine the amount of cost of goods sold the company will report on its first quarter pro forma income statement. c. Determine the amount of ending inventory the company will report on its pro forma balance sheet at the end of the first quarter. Complete this question by entering your answers in the tabs below. Req A Req B and C Complete the inventory purchases budget by filling in the missing amounts. Inventory Purchases Budget January February March Budgeted cost of goods sold $ 51,000 $ 55,000 $61,000 Plus Desired ending inventory 11,000 Inventory needed 62.000 10 200 Less Desired beginning inventory Required purchases (on account) $ 51,800. Ragh search O i P BAD huu Req B and C > Stuart Company sells lamps and other lighting fixtures. The purchasing department manager prepared the following inventory purchases budget. Stuart's policy is to maintain an ending inventory balance equal to 20 percent of the following month's cost of goods sold. April's budgeted cost of goods sold is $82,000. Required a. Complete the inventory purchases budget by filling in the missing amounts. b. Determine the amount of cost of goods sold the company will report on its first quarter pro forma income statement. c. Determine the amount of ending inventory the company will report on its pro forma balance sheet at the end of the first quarter, es Complete this question by entering your answers in the tabs below. Req A Req B and C Determine the amount of cost of goods sold the company will report on its first quarter pro forma income statement. Determine the amount of ending inventory the company will report on its pro forma balance sheet at the end of the first quarter. bCost of goods sold c. Ending inventory Zachary Books buys books and magazines directly from publishers and distributes them to grocery stores. The wholesaler expects to purchase the following inventory: April May June Required purchases (on account) $116,000 $135,000 $148,000 Zachary Books' accountant prepared the following schedule of cash payments for inventory purchases. Zachary Books' suppliers require that 95 percent of purchases on account be paid in the month of purchase, the remaining 5 percent are paid in the month following the month of purchase. Required a. Complete the schedule of cash payments for inventory purchases by filling in the missing amounts b. Determine the amount of accounts payable the company will report on its pro forma balance sheet at the end of the second quarter. Complete this question by entering your answers in the tabs below. Required A Required B Complete the schedule of cash payments for inventory purchases by filling in the missing amounts. Schedule of Cash Payments for Inventory Purchases April May June $ 110,200 Payment for current accounts payable Payment for previous accounts payable Total budoefed cavments for inventory 5,000 5 115.2001 S Next > M search O Ai C N 1 he 0 $ The budget director for Stuart Cleaning Services prepared the following list of expected selling and administrative expenses. All expenses requiring cash payments are paid for in the month incurred except salary expense and insurance. Salary is paid in the month following the month in which it is incurred. The insurance premium for six months is paid on October 1. October is the first month of operations; accordingly, there are no beginning account balances. Required a. Complete the schedule of cash payments for S&A expenses by filling in the missing amounts. b. Determine the amount of salaries payable the company will report on its pro forma balance sheet at the end of the fourth quarter. c. Determine the amount of prepaid Insurance the company will report on its pro forma balance sheet at the end of the fourth quarter. Complete this question by entering your answers in the tabs below. Req A- Req B and C Complete the schedule of cash payments for S&A expenses by filling in the missing amounts. October November December Budgeted S&A Expenses Equipment lease expense S 6,000 $ 6,000 $ 6,000 Salary expense 6,600 7,100 7,500 Cleaning supplies 2,090 2,780 3,010 Insurance expense 1,000 1,900 1,900 Depreciation on computer 1,000 1,900 1,000 Rent 2.500 2.500 2.500 WAT www Budgeted S&A Expenses Equipment lease expense Salary expense Cleaning supplies Insurance expense Depreciation on computer Rent Miscellaneous expenses Total operating expenses Schedule of Cash Payments for S&A Expenses Equipment lease expense Prior month's salary expense, 100% Cleaning supplies Insurance premium Depreciation on computer Rent Miscellaneous expenses Total disbursements for operating expenses October November December 6,000 $ 6,000 $ 6,000 6,600 7,100 7,500 2,890 2,780 3,010 1,900 1,900 1,900 1,900 1,900 1,900 2,500 2,500 2,500 750 750 750 22,930 $ 23,560 $ 22,540 $ 23,540 $ 18,630 $ 19,360 Req B and C > wwwving on a pas ne peuven operations; accordingly, there are no beginning account balances. Required a. Complete the schedule of cash payments for S&A expenses by filling in the missing amounts. b. Determine the amount of salaries payable the company will report on its pro forma balance sheet at the end of the fourth quarter. c. Determine the amount of prepaid insurance the company will report on its pro forma balance sheet at the end of the fourth quarter. Complete this question by entering your answers in the tabs below. ces Req A Req B and C Determine the amount of salaries payable and prepaid insurance the company will report on its pro forma balance sheet at the end of the fourth quarter. b Salaries payable c Prepaid insurance