Question: Prepare a budgeted balonce sheet at March 31 using the following information from Zimmer Company. a. The cash budget for March shows an ending loan
Prepare a budgeted balonce sheet at March 31 using the following information from Zimmer Company. a. The cash budget for March shows an ending loan balance of $14,500 and an ending cash balance of $57,300. b. The sales budget for March shows sales of $129,000. Accounts receivable at the end of March are budgeted to be 70% of March sales. c. The merchandise purchases budget shows that $89,900 in merchandise will be purchased on credit in March. Purchases on credit are poid 100% in the month following the purchase. d. Ending merchandise inventory for March is budgeted to be 690 units at a cost of $30 each. e. Income taxes payable of \$26,900 are budgeted at the end of March. f. Accounting records at the end of March show budgeted equipment of $83,100 with accumulated depreciation of $32,800 9. Common stock of $29,500 and retained earnings of $57,800 are budgeted ot the end of March
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