The prepare a master budget for January, February, and March, use the following information: Cash Accounts receivable

The prepare a master budget for January, February, and March, use the following information:

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Cash Accounts receivable Inventory Equipment Assets DIMSDALE SPORTS COMPANY Liabilities Less: Accumulated depreciation Equipment, net Total assets Balance Sheet December 31 Liabilities and Equity Accounts payable Loan payable Taxes payable (due March 15) Equity Common stock Retained earnings Total stockholders' equity Total liabilities and equity $ 564,000 70,500 $ 375,000 11,000 90,000 $ 473,000 186,000 $ 21,500 520,000 100,000 493,500 $ 1,135,000 $ 476,000 659,000 $ 1,135,000 Cash Accounts receivable Inventory Equipment Assets DIMSDALE SPORTS COMPANY Liabilities Less: Accumulated depreciation Equipment, net Total assets Balance Sheet December 31 Liabilities and Equity Accounts payable Loan payable Taxes payable (due March 15) Equity Common stock Retained earnings Total stockholders' equity Total liabilities and equity $ 564,000 70,500 $ 375,000 11,000 90,000 $ 473,000 186,000 $ 21,500 520,000 100,000 493,500 $ 1,135,000 $ 476,000 659,000 $ 1,135,000

Answer rating: 100% (QA)

1 Sales Budgets Month Budgeted Sales Cash Receipts from Sales January 371250 241375 February 495000 691826 March 605000 492484 2 Merchandise Purchases ... View the full answer