Question list

Question $1$

Data table

Budgeted total sales, all on account

Budgeted purchases of merchandise inventory, all on account

Budgeted cost of goods sold

Budgeted selling and administrative expenses:

Commissions expense

Salaries expense

Rent expense

Depreciation expense

Insurance expense

Budgeted cash receipts from customers

Budgeted cash payments for merchandise inventory

Budgeted cash payments for salaries and commissions

Budgeted income tax expense

Blimp Company has the following post$-$closing trial balance on December $31,2016$:

$($Click the icon to view the post$-$closing trial balance.$)$

The company's accounting department has gathered the following budgeting information for the first

quarter of $2017$:

$($Click the icon to view the budget information.$)$

Additional information:

Rent and income tax expenses are paid as incurred. Insurance expense is an expiration of

the prepaid amount.

Read the requirements.

Data table

Prepare a budgeted income statement for the quarter ended March $31,2017.$

Prepare a budgeted balance sheet as of March $31,2017.$

Prepare a budgeted statement of cash flows for the quarter ended March $31,$