1 of 1 (1 complete) HW Score: 12%, 1.56 of 13 pts Score: 1.56 of 13 pts P22-45A (similar to) Question Help 0 Data Table i More Info Note Printing Supply of Baltimore has applied for a loan 2018 and budgeted balance sheet at April 30, 2018. The (Click the icon to view the balance sheet.) Cost of goods sold Note Printing Supply Balance Sheet March 31, 2018 Assets Plus: Desired ending merchandise inventory Total merchandise inventory required Less: Beginning merchandise inventory Current Assets: Cash Accounts Receivable $ a. April dividends of $8.000 were declared and paid. b. April capital expenditures of $16,700 budgeted for cash purchase of equipment c. April depreciation expense, $200. d. Cost of goods sold, 55% of sales. e. Desired ending inventory for April is $29.500. f. April selling and administrative expenses include salaries of $29,000, 25% of which will be paid in cash and the remainder paid next month. g. Additional April selling and administrative expenses also include miscellaneous expenses of 10% of sales, all paid in April. h. April budgeted sales, $86,000, 70% collected in April and 30% in May. April cash payments of March 31 liabilities incurred for March purchases of Inventory, $8,400. j. April purchases of inventory, $27. 100 for cash and $37,600 on account. Half the credit purchases will be paid in April and half in May. 51,000 13,200 12,100 Budgeted Purchases Requirement 3. Prepare the selling and administrative $ 76,300 Note Printing Supply Selling and Administrative Expense Bud For the Month Ended April 30, 2018 Variable expenses: Merchandise Inventory Total Current Assets Properly, Plant, and Equipment: Equipment and Fixtures 80,400 (12.800) $ Less: Accumulated Depreciation 67,600 Print Done 143,900 Total Assets Liabilities Fixed expenses: Current Liabilities: Accounts Payable $ 8,400 Total fixed expenses Stockholders' Equity $ Common Stock, no par 45,000 Total selling and administrative expenses Choose from any list or enter any number in the inpy Print Done 1 of 1 (1 complete) HW Score: 12%, 1.56 of 13 pts Score: 1.56 of 13 pts P22-45A (similar to) Question Help 0 Data Table i More Info Note Printing Supply of Baltimore has applied for a loan 2018 and budgeted balance sheet at April 30, 2018. The (Click the icon to view the balance sheet.) Cost of goods sold Note Printing Supply Balance Sheet March 31, 2018 Assets Plus: Desired ending merchandise inventory Total merchandise inventory required Less: Beginning merchandise inventory Current Assets: Cash Accounts Receivable $ a. April dividends of $8.000 were declared and paid. b. April capital expenditures of $16,700 budgeted for cash purchase of equipment c. April depreciation expense, $200. d. Cost of goods sold, 55% of sales. e. Desired ending inventory for April is $29.500. f. April selling and administrative expenses include salaries of $29,000, 25% of which will be paid in cash and the remainder paid next month. g. Additional April selling and administrative expenses also include miscellaneous expenses of 10% of sales, all paid in April. h. April budgeted sales, $86,000, 70% collected in April and 30% in May. April cash payments of March 31 liabilities incurred for March purchases of Inventory, $8,400. j. April purchases of inventory, $27. 100 for cash and $37,600 on account. Half the credit purchases will be paid in April and half in May. 51,000 13,200 12,100 Budgeted Purchases Requirement 3. Prepare the selling and administrative $ 76,300 Note Printing Supply Selling and Administrative Expense Bud For the Month Ended April 30, 2018 Variable expenses: Merchandise Inventory Total Current Assets Properly, Plant, and Equipment: Equipment and Fixtures 80,400 (12.800) $ Less: Accumulated Depreciation 67,600 Print Done 143,900 Total Assets Liabilities Fixed expenses: Current Liabilities: Accounts Payable $ 8,400 Total fixed expenses Stockholders' Equity $ Common Stock, no par 45,000 Total selling and administrative expenses Choose from any list or enter any number in the inpy Print Done