Can i please have help filling out the Budgeted Balance Sheet?

ad the requirements quirement 1. Prepare Gilder's operating budget and cash budget for 2017 by quarter. Required schedules st of goods sold budget, selling and administrative expense budget, schedule of cash receipts, schedule on nearest dollar gin by preparing the sales budget. Gilder Tire Company Sales Budget For the Year Ended December 31, 2017 First Second Third Fourth Quarter Quarter Quarter Quarter Total dgeted tires to be sold 1,400 1,450 1,500 1,550 5,900 ales price per unit 50 50 50 50 50 tal sales 70,000 72,500 75,000 77,500 295,000 epare the production budget. view the sales budget you prepared above. Gilder Tire Company Production Budget moose from any list or enter any number in the input fields and then click Check Answer. parts showing esc C G Search $ % Fourth Quarter Total Other data for Gilder Tire Company: i (Click the icon to view the other data) Read the requirements, , . Review the sales budget you prepared above. Gilder Tire Company Production Budget For the Year Ended December 31, 2017 First Second Third Quarter Quarter Quarter Budgeted tires to be sold 1400 1450 1500 Plus Desired tires in ending inventory 725 750 775 Total tiros needed 2125 2200 2275 Loss Tires in beginning inventory 400 725 750 Budgeted tires to be produced 1475 1525 Prepare the direct materiais budget. Review the production budget you prepared above. Gilder Tire Company Direct Materials Budget 1550 800 5900 800 2350 775 6700 400 1725 1575 6300 Choose from any list or enter any number in the input fields and then click Check Answer ll parts showing Clear All MacBook esc G Search or type URL @ # ! 1 % 2 3 4. 5 6 ther data for Gilder Tire Company (Click the icon to view the other data) ead the requirements view the production budget you prepared above Gilder Tire Company Direct Materials Budget For the Year Ended December 31, 2017 First Second Quarter Quarter Third Fourth Quarter 1,575 Quarter 1,525 Total 1,475 6,300 1,725 12 12 12 12 12 20,700 7,080 Budgeted tires to be produced Nirect materials cost per unit Direct materials needed for production Plus: Desired direct materials in end inventory Total direct materials needed Direct materials in beginning inventory Budgeted purchases of direct materials 17,700 7,320 18,300 7,560 18,900 4.800 75,600 4,800 27,780 4,800 25,020 25,860 7,080117,320 23,700 7,560 16,140 80,400 4,800 22,980 17,940 18,540 75,600 Prepare the direct labor budget (Enter any hours per unit amounts to two Grcimal places, XXX, and round all other amounts to the neares Review the production budget you repared above. Choose from any list or enter any number in the input fields and then click Check Answer all parts showing Clear All MacBook Pro esc G Search or type URL 4 & # 3 2 % 5 4 6 7 Q W E R T Y her data for Gilder Tire Company: (Click the icon to view the other data) ad the requirements apare the direct labor budget. (Enter any hours per unit amounts to two decimal places, XXX, and round all other amounts to the view the production budget you prepared above. Gilder Tire Company Direct Labor Budget For the Year Ended December 31, 2017 First Second Third Fourth Quarter Quarter Quarter Quarter Total udgeted tires to be produced 1,725 1.475 1,525 1,575 6,300 irect labor hours per unit 0.40 0.40 0.40 0.40 0.40 rect labor hours needed for production 690 590 610 630 2.520 irect labor cost per hour 14 14 14 14 14 9,660 8,280 8,540 udgeted direct labor cost 8,820 35.280 repare the manufacturing overhead budget. (Abbreviations used: VOH - variable manufacturing overhead, FOH = fixed manufactur eview the production budget you prepared above I eview the direct labor budget you.prepared above. Gilder Tire Com oose from any list or enter any number in the input fields and then click Check Answer parts showing Clear All MacBook Pro esc > G Search or type URL # % ! 1 2 3 4 5 6 W T Fourth Quarter Total (Click the icon to view the balance sheet.) Other data for Gilder Tire Company Click the icon to view the other data.) Read the requirements Guider Hire company Manufacturing Overhead Budget For the Year Ended December 31, 2017 First Second Third Quarter Quarter Quarter Budgeted tires to be produced 1,725 1,475 1.525 VOH cost per tira 2 2 2 Budgeted VOH 3,450 2,950 3,050 Budgeted FOH Depreciation 4,500 4,500 4,500 Utilities, insurance, property taxes 14.400 14.400 14.400 Total budgeted FOH 18,900 18,900 18,900 Budgeted manufacturing overhead costs 22,350 21,850 21,950 1,575 2 6,300 2 3.150 12.600 4,500 14,400 18,000 14.400 18.900 18,900 22.050 88.200 690 590 610 630 2,520 Direct labor hours Budgeted manufacturing overhead costs Predetermined overhead allocation rate 88.200 35 Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear All esc G Search or type URL % # 3 1 2 4 5 6 C TAL n Click the loon to view the balance sheet) Other data for Gilder Tire Company (Click the icon to view the other data) Read the requirements Gilder Tire Company Cost of Goods Sold Budget For the Year Ended December 31, 2017 First Second Third Quarter Quarter Quarter Fourth Quarter Total 12.800 173,800 186,600 Beginning inventory 12 800 31,600 45,820 47,400 48.980 Tires produced and sold in 2017 44.400 45,820 47.400 48.980 Total budgeted cost of goods sold Prepare the selling and administrative expense budget. Review the sales budget you prepared above. Gilder Tire Company Selling and Administrative Expense Budget For the Year Ended December 31, 2017 First Second Third Quarter Quarter Quarter Salaries Expense 10.000 10,000 10.000 Fourth Quarter Total 10.000 40.000 Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear All MacBook Pro esc > G Search or type URL # ! 1 2 3 4 5 6 Q W E R Click the loon to view the balance sheet) Other data for Gilder Tire Company (Click the icon to view the other data) Read the requirements Gilder Tire Company Cost of Goods Sold Budget For the Year Ended December 31, 2017 First Second Third Quarter Quarter Quarter Fourth Quarter Total 12.800 173,800 186,600 Beginning inventory 12 800 31,600 45,820 47,400 48.980 Tires produced and sold in 2017 44.400 45,820 47.400 48.980 Total budgeted cost of goods sold Prepare the selling and administrative expense budget. Review the sales budget you prepared above. Gilder Tire Company Selling and Administrative Expense Budget For the Year Ended December 31, 2017 First Second Third Quarter Quarter Quarter Salaries Expense 10.000 10,000 10.000 Fourth Quarter Total 10.000 40.000 Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear All MacBook Pro esc > G Search or type URL # ! 1 2 3 4 5 6 Q W E R Read the requirements Review the sales budget you prepared above. Total 900 Gilder Tire Company Selling and Administrative Expense Budget For the Year Ended December 31, 2017 First Second Third Fourth Quarter Quarter Quarter Quarter Salaries Expense 10,000 10,000 10,000 10,000 Rent Expense 2,400 2,400 2.400 2,400 Insurance Expense 900 900 900 Depreciation Expense 1000 1000 1000 1000 Supplies Expense 2,100 2,175 2.250 2,325 Total budgeted selling and administrative expense 16,400 16,475 16,550 16,625 Prepare the cash receipts budget. (If a box is not used in the table leave the box empty, do not enter a zero) Review the sales budget you creared above. Cash Receipts from Customers I First Second Third Fourth 40,000 9,600 3,600 4,000 8,850 66,050 Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear All MacBook Pro esc G Search or type URL $ 1 2 3 % 5 4 6 Q W E R. Read the requirements Cash Receipts from Customers First Second Third Fourth Quarter Quarter Quarter Quarter Total Total sales 70,000 72.500 75,000 295,000 77,500 Fourth First Second Quarter Third Quarter Quarter Quarter Total 22,000 14,000 28.000 Cash Receipts from Customers: Accounts Receivable balance, December 31, 2016 1st Qur-Cash sales 1st Or.-Credit sales, collection of Qur. 1 sales in Otr. 1 151 Qtr-Credit sales, collection of our 1 sales in Qtr. 2 2nd Otr-Cash sains 2nd or Creditos, collection of tr 2 los in Qir. 2 2nd OttCredit sales, collection of tr 2 sales in Q3 3rd Otr-Cash sales 3rd Qur-Credit salos, collection of our sales in die 3rd Credit sales collection of otr 3 in 1 28.000 14,500 29,000 11 29,000 15,000 30.000 30,000 Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear All MacBook Pro esc c Search or type URL @ 23 & 1 2 3 4 5 6 Q W E R. T Y S D F G Click the icon to view the other data.) Read the requirements 14,500 29,000 2nd Otr-Cash sales 2nd Qur-Credit salos, collection of Otr. 2 sales in 2 2nd Otr --Credit salos, collection of Qtr 2 sales in Otr. 3 Sed Qir-Cash sales 3rd Or-Credit sales, collection of tr. 3 sales in Otr. 3 3rd Ote-Crodit sales, collection of Qur. 3 sales in 0 4 4th Qir-Cash sales 4th Or --Credit sales, collection of Qir. 4 sales in Qtr. 4 29,000 15,000 30,000 30,000 15,500 31,000 84,000 71,500 74,000 Total cash receipts from customers 76,500 286,000 Accounts Receivable balance, December 31, 2017: 4th Or-Credit sales, collection of tr. 4 sales in Qtr 1 of 2018 31,000 Prepare the cash payments budget. (Round all amounts you entered into the budget to the nearest whole dollar. If a box is not uned in the Review the direct materials budget you prestared above. Review the direct labor budget you prepared above. Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear All MacBook Pro esc c Search or type URL @ 1 # 3 2 4 5 6 Q W E R T Y C (Click the icon to view the other data.) Read the requirements Cash Payments First Third Second Quarter Fourth Quarter Quarter Total Quarter 22.980 Total direct materials purchases 18.540 16.140 75,600 First 17.940 Second Quarter Third Quarter Fourth Quarter Quarter Total Cash Payments 5,000 18,384 4,596 Direct Materials: Accounts Payable balance, December 31, 2016 1st Qt-Qur. 1 direct material purchases paid in Qtr. 1 1st Or.-Otr. 1 direct material purchases paid in Qir. 2 2nd Otr-tr. 2 direct material purchases paid in otr. 2 2nd Otr-Oir 2 direct material purchases paid in otr. 3 3rd Or.-Otr. 3 direct material purchases paid in Our 3 3rd Olr-tr. 3 direct material purchases paid in Qtr 4 4th Otr-tr. 4 direct material purchases paid in Otr. 4 14,352 3,588 14,832 3,708 12,912 Total Davments for direct materials 23,384 18.948 18,420 16,620 77,372 Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear All MacBook Pro esc c G Search or type URL # 1 2 % 5 3 4 6 W E R (click the icon to view to SUL Other data for Gilder Tire Company: (Click the icon to view the other data) 3.700 Read the requirements 3rd Q - 3 direct material purchases paid in Gr.4 4th Or --Otr. 4 direct material purchases paid in Otr. 4 12,912 23,384 18,948 18,420 16,620 77,372 Total payments for direct materials Direct Labor: 9,660 8,260 8,540 8,820 Total payments for direct labor 35,280 3,450 Manufacturing Overhead: Variable manufacturing overhead Utilities, insurance property taxes Total payments for manufacturing overhead 2,950 14,400 3,050 14.400 3,150 14,400 17,550 12,600 57,600 14,400 17.850 17,350 17,450 70.200 10.000 10,000 10,000 Selling and Administrative Expenses: Salaries Expense Rent Expense Insurance Expenso Supplies Expanse 10,000 2400 40,000 9,600 2400 2400 2.400 900 900 900 900 3.600 2.100 2.175 2.250 2325 8.850 Choose from any list or enter any number in the input fields and then click Check Answer. All parts showing Clear All MacBook Pro esc G Search or type URL @ $ % 5 1 2 3 4 6 W E R. Y Hyv The Gilder Tire Company manufactures racing tires for bicycles. Glass 10 $50 Gisid 13! (Click the icon to viow the balance sheet) Other data for Gilder Tire Company (Click the icon to view the other data) Read the requirements 2400 2400 2400 9,600 2.400 900 900 900 900 3,600 Rent Expense Insurance Expenso Supplies Expense Total payments for Selling and Admin. expenses 2.100 15,400 2,175 15,475 2,250 15,550 2,325 15,625 8,850 62,050 Income Taxes: Total payments for income taxes 1,500 1,500 1,500 1,500 6,000 Capital Expenditures: Total payments for capital expenditures 30,000 30,000 97,794 61,533 Total cash payments (before Interest) 61,460 60.115 280,902 Accounts Payable balance, December 31, 2017: th-O. 4 direct material purchases paid in Otr. 1 af 2018 3.228 Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear All MacBook esc c Search or type URL # 3 2 4 5 6 W E R. Y Click the icon to view the balance sheet) her data for Gilder Tire Company: Click the icon to view the other data.) ad the requirements Gilder Tire Company Cash Budget For the Year Ended December 31, 2017 First Second Third Quarter Quarter Quarter 35.000 30,206 30.883 64,000 71,500 74.000 Total Fourth Quarter 30,223 76,500 35,000 285,000 eginning cash balance esh receipts ash available 99,000 101,706 104,883 106,723 321,000 0 0 30.000 30,000 23,384 9660 0 18,420 16,620 ash payments Capital expenditures Purchases of direct materials Direct labor Manufacturing overhead Selling and administrative expenses Income taxes 18.948 8260 8820 8540 17.450 17.850 17,350 17,550 77,372 35.280 70,200 62,050 5,000 560 15,400 1,500 0 15,475 1.500 290 15,550 1,500 200 15,625 1,500 70 Interest expense 97,794 61,823 61.660 60.185 281,462 oose from any list or enter any number in the input fields and then click Check Answer parts showing Clear All MacBook Pro esc c G Search or type URL % # 3 1 2 4 5 6 Q W E R Y SP VOCO 17,550 15,625 4,00 70,200 62,050 1,500 70 6,000 560 The Gilder Tire Company manufactures racing tires for bicycles, Gilder Solsos TOP 50 C Click the icon to view the balance sheet) Other data for Gilder Tire Company (Click the icon to view the other data) Read the requirements WE DO GU OLUN OU Manufacturing overhead 17,850 17,350 17.450 Selling and administrative expenses 15,400 15,475 15,550 Income ances 1,500 1,500 1,500 0 290 Interest expense 200 97,794 61,823 Total cash payments 61,660 Ending cash balance before financing 1,206 39,883 43223 Minimum cash balance desired (30,000) (30,000) (30,000) Projected cash excess (do clancy) (28,794) 9.883 13,223 Financing Borrowing 29,000 0 0 0 Principal repayments (9.000) (13,000 Total effects of financing 29.000 (9,000) (13,000) Ending cash balance 30,206 30,883 30.223 60,185 281,462 46,538 46,538 (30,000) (30,000) 16,538 16,538 0 29,000 (29,000) (7,000) (7,000) 0 39,538 39,538 Requirement 2. Prepare Gilder's annual financial budget for 2017, including budgeted income statement, budgeted balance sheet, and b Begin with the budgeted income statement. (Complete all input boxes. Enter for any zoro balances. Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear All MACBOOK Pro esc G Search or type URL 2 3 4 5 6 Q W E R . Y The Gilder hire ompany Halius (Click the loon to view the balance sheet.) Other data for Gilder Tire Company: Click the icon to view the other data.) Read the requirements Review the selling and administrative expense budget you prepared above, Review the cash budget you prepared above Gilder Tire Company Budgeted Income Statement For the Year Ended December 31, 2017 Sales Revenue 295,000 Cost of Goods Sold 186,600 Gross Profit 108.400 Seling and Administrative Expenses 66,050 Operating incomo 42,350 Interest Expense 560 Income before Income Taxes 41,790 Income Tax Expenso 6,000 Net Income 35.790 Prepare the budgeted balance sheet. (Round to the nearest whole dollar) Review the production budget you prepared above. Review the direct materials budget you prepared above Choose from any list or enter any number in the input fields and then click Check Answer all parts showing Clear All MacBook P esc G Search or type URL 1 2 % 5 3 4 6 The Gider Tire Company manufactures racing tires for bicycles. Gilder sells tires for $50 each. Glider is planning for the next Click the icon to view the balance sheet.) Other data for Gilder Tire Company (Click the icon to view the other data) Read the requirements Budgeted Balance Sheet December 31, 2017 Assets Current Assets Cash Accounts Receivable Raw Materiais Inventory Finished Goods Inventory Total Current Assets Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation Total Assets Liabilities Current Liabilities: Accounts Payable Stockholders' Equity Choose from any list or enter any number in the input fields and then click Check Answer. All parts showing Clear esc # 1 2 3 4 5 6. nstructor-created question The Gider Tire Company manufactures racing tires for bicycles. Gilder sells tires for 50 each Gilder is planning for the next year by deve (Click the icon to view the balance sheet.) Other data for Gilder Tire Company: (Click the icon to view the other data) Read the requirements Accounts Receivable Raw Materials Inventory Finished Goods Inventory Total Current Assets Property. Plant, and Equipment: Equipment Less: Accumulated Depreciation Total Assets Liabilities Current Liabilities: Accounts Payable Stockholders' Equity Common Stock, no par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear All MECBOOK PO esc 2 3 4 5 6 ad the requirements quirement 1. Prepare Gilder's operating budget and cash budget for 2017 by quarter. Required schedules st of goods sold budget, selling and administrative expense budget, schedule of cash receipts, schedule on nearest dollar gin by preparing the sales budget. Gilder Tire Company Sales Budget For the Year Ended December 31, 2017 First Second Third Fourth Quarter Quarter Quarter Quarter Total dgeted tires to be sold 1,400 1,450 1,500 1,550 5,900 ales price per unit 50 50 50 50 50 tal sales 70,000 72,500 75,000 77,500 295,000 epare the production budget. view the sales budget you prepared above. Gilder Tire Company Production Budget moose from any list or enter any number in the input fields and then click Check Answer. parts showing esc C G Search $ % Fourth Quarter Total Other data for Gilder Tire Company: i (Click the icon to view the other data) Read the requirements, , . Review the sales budget you prepared above. Gilder Tire Company Production Budget For the Year Ended December 31, 2017 First Second Third Quarter Quarter Quarter Budgeted tires to be sold 1400 1450 1500 Plus Desired tires in ending inventory 725 750 775 Total tiros needed 2125 2200 2275 Loss Tires in beginning inventory 400 725 750 Budgeted tires to be produced 1475 1525 Prepare the direct materiais budget. Review the production budget you prepared above. Gilder Tire Company Direct Materials Budget 1550 800 5900 800 2350 775 6700 400 1725 1575 6300 Choose from any list or enter any number in the input fields and then click Check Answer ll parts showing Clear All MacBook esc G Search or type URL @ # ! 1 % 2 3 4. 5 6 ther data for Gilder Tire Company (Click the icon to view the other data) ead the requirements view the production budget you prepared above Gilder Tire Company Direct Materials Budget For the Year Ended December 31, 2017 First Second Quarter Quarter Third Fourth Quarter 1,575 Quarter 1,525 Total 1,475 6,300 1,725 12 12 12 12 12 20,700 7,080 Budgeted tires to be produced Nirect materials cost per unit Direct materials needed for production Plus: Desired direct materials in end inventory Total direct materials needed Direct materials in beginning inventory Budgeted purchases of direct materials 17,700 7,320 18,300 7,560 18,900 4.800 75,600 4,800 27,780 4,800 25,020 25,860 7,080117,320 23,700 7,560 16,140 80,400 4,800 22,980 17,940 18,540 75,600 Prepare the direct labor budget (Enter any hours per unit amounts to two Grcimal places, XXX, and round all other amounts to the neares Review the production budget you repared above. Choose from any list or enter any number in the input fields and then click Check Answer all parts showing Clear All MacBook Pro esc G Search or type URL 4 & # 3 2 % 5 4 6 7 Q W E R T Y her data for Gilder Tire Company: (Click the icon to view the other data) ad the requirements apare the direct labor budget. (Enter any hours per unit amounts to two decimal places, XXX, and round all other amounts to the view the production budget you prepared above. Gilder Tire Company Direct Labor Budget For the Year Ended December 31, 2017 First Second Third Fourth Quarter Quarter Quarter Quarter Total udgeted tires to be produced 1,725 1.475 1,525 1,575 6,300 irect labor hours per unit 0.40 0.40 0.40 0.40 0.40 rect labor hours needed for production 690 590 610 630 2.520 irect labor cost per hour 14 14 14 14 14 9,660 8,280 8,540 udgeted direct labor cost 8,820 35.280 repare the manufacturing overhead budget. (Abbreviations used: VOH - variable manufacturing overhead, FOH = fixed manufactur eview the production budget you prepared above I eview the direct labor budget you.prepared above. Gilder Tire Com oose from any list or enter any number in the input fields and then click Check Answer parts showing Clear All MacBook Pro esc > G Search or type URL # % ! 1 2 3 4 5 6 W T Fourth Quarter Total (Click the icon to view the balance sheet.) Other data for Gilder Tire Company Click the icon to view the other data.) Read the requirements Guider Hire company Manufacturing Overhead Budget For the Year Ended December 31, 2017 First Second Third Quarter Quarter Quarter Budgeted tires to be produced 1,725 1,475 1.525 VOH cost per tira 2 2 2 Budgeted VOH 3,450 2,950 3,050 Budgeted FOH Depreciation 4,500 4,500 4,500 Utilities, insurance, property taxes 14.400 14.400 14.400 Total budgeted FOH 18,900 18,900 18,900 Budgeted manufacturing overhead costs 22,350 21,850 21,950 1,575 2 6,300 2 3.150 12.600 4,500 14,400 18,000 14.400 18.900 18,900 22.050 88.200 690 590 610 630 2,520 Direct labor hours Budgeted manufacturing overhead costs Predetermined overhead allocation rate 88.200 35 Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear All esc G Search or type URL % # 3 1 2 4 5 6 C TAL n Click the loon to view the balance sheet) Other data for Gilder Tire Company (Click the icon to view the other data) Read the requirements Gilder Tire Company Cost of Goods Sold Budget For the Year Ended December 31, 2017 First Second Third Quarter Quarter Quarter Fourth Quarter Total 12.800 173,800 186,600 Beginning inventory 12 800 31,600 45,820 47,400 48.980 Tires produced and sold in 2017 44.400 45,820 47.400 48.980 Total budgeted cost of goods sold Prepare the selling and administrative expense budget. Review the sales budget you prepared above. Gilder Tire Company Selling and Administrative Expense Budget For the Year Ended December 31, 2017 First Second Third Quarter Quarter Quarter Salaries Expense 10.000 10,000 10.000 Fourth Quarter Total 10.000 40.000 Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear All MacBook Pro esc > G Search or type URL # ! 1 2 3 4 5 6 Q W E R Click the loon to view the balance sheet) Other data for Gilder Tire Company (Click the icon to view the other data) Read the requirements Gilder Tire Company Cost of Goods Sold Budget For the Year Ended December 31, 2017 First Second Third Quarter Quarter Quarter Fourth Quarter Total 12.800 173,800 186,600 Beginning inventory 12 800 31,600 45,820 47,400 48.980 Tires produced and sold in 2017 44.400 45,820 47.400 48.980 Total budgeted cost of goods sold Prepare the selling and administrative expense budget. Review the sales budget you prepared above. Gilder Tire Company Selling and Administrative Expense Budget For the Year Ended December 31, 2017 First Second Third Quarter Quarter Quarter Salaries Expense 10.000 10,000 10.000 Fourth Quarter Total 10.000 40.000 Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear All MacBook Pro esc > G Search or type URL # ! 1 2 3 4 5 6 Q W E R Read the requirements Review the sales budget you prepared above. Total 900 Gilder Tire Company Selling and Administrative Expense Budget For the Year Ended December 31, 2017 First Second Third Fourth Quarter Quarter Quarter Quarter Salaries Expense 10,000 10,000 10,000 10,000 Rent Expense 2,400 2,400 2.400 2,400 Insurance Expense 900 900 900 Depreciation Expense 1000 1000 1000 1000 Supplies Expense 2,100 2,175 2.250 2,325 Total budgeted selling and administrative expense 16,400 16,475 16,550 16,625 Prepare the cash receipts budget. (If a box is not used in the table leave the box empty, do not enter a zero) Review the sales budget you creared above. Cash Receipts from Customers I First Second Third Fourth 40,000 9,600 3,600 4,000 8,850 66,050 Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear All MacBook Pro esc G Search or type URL $ 1 2 3 % 5 4 6 Q W E R. Read the requirements Cash Receipts from Customers First Second Third Fourth Quarter Quarter Quarter Quarter Total Total sales 70,000 72.500 75,000 295,000 77,500 Fourth First Second Quarter Third Quarter Quarter Quarter Total 22,000 14,000 28.000 Cash Receipts from Customers: Accounts Receivable balance, December 31, 2016 1st Qur-Cash sales 1st Or.-Credit sales, collection of Qur. 1 sales in Otr. 1 151 Qtr-Credit sales, collection of our 1 sales in Qtr. 2 2nd Otr-Cash sains 2nd or Creditos, collection of tr 2 los in Qir. 2 2nd OttCredit sales, collection of tr 2 sales in Q3 3rd Otr-Cash sales 3rd Qur-Credit salos, collection of our sales in die 3rd Credit sales collection of otr 3 in 1 28.000 14,500 29,000 11 29,000 15,000 30.000 30,000 Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear All MacBook Pro esc c Search or type URL @ 23 & 1 2 3 4 5 6 Q W E R. T Y S D F G Click the icon to view the other data.) Read the requirements 14,500 29,000 2nd Otr-Cash sales 2nd Qur-Credit salos, collection of Otr. 2 sales in 2 2nd Otr --Credit salos, collection of Qtr 2 sales in Otr. 3 Sed Qir-Cash sales 3rd Or-Credit sales, collection of tr. 3 sales in Otr. 3 3rd Ote-Crodit sales, collection of Qur. 3 sales in 0 4 4th Qir-Cash sales 4th Or --Credit sales, collection of Qir. 4 sales in Qtr. 4 29,000 15,000 30,000 30,000 15,500 31,000 84,000 71,500 74,000 Total cash receipts from customers 76,500 286,000 Accounts Receivable balance, December 31, 2017: 4th Or-Credit sales, collection of tr. 4 sales in Qtr 1 of 2018 31,000 Prepare the cash payments budget. (Round all amounts you entered into the budget to the nearest whole dollar. If a box is not uned in the Review the direct materials budget you prestared above. Review the direct labor budget you prepared above. Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear All MacBook Pro esc c Search or type URL @ 1 # 3 2 4 5 6 Q W E R T Y C (Click the icon to view the other data.) Read the requirements Cash Payments First Third Second Quarter Fourth Quarter Quarter Total Quarter 22.980 Total direct materials purchases 18.540 16.140 75,600 First 17.940 Second Quarter Third Quarter Fourth Quarter Quarter Total Cash Payments 5,000 18,384 4,596 Direct Materials: Accounts Payable balance, December 31, 2016 1st Qt-Qur. 1 direct material purchases paid in Qtr. 1 1st Or.-Otr. 1 direct material purchases paid in Qir. 2 2nd Otr-tr. 2 direct material purchases paid in otr. 2 2nd Otr-Oir 2 direct material purchases paid in otr. 3 3rd Or.-Otr. 3 direct material purchases paid in Our 3 3rd Olr-tr. 3 direct material purchases paid in Qtr 4 4th Otr-tr. 4 direct material purchases paid in Otr. 4 14,352 3,588 14,832 3,708 12,912 Total Davments for direct materials 23,384 18.948 18,420 16,620 77,372 Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear All MacBook Pro esc c G Search or type URL # 1 2 % 5 3 4 6 W E R (click the icon to view to SUL Other data for Gilder Tire Company: (Click the icon to view the other data) 3.700 Read the requirements 3rd Q - 3 direct material purchases paid in Gr.4 4th Or --Otr. 4 direct material purchases paid in Otr. 4 12,912 23,384 18,948 18,420 16,620 77,372 Total payments for direct materials Direct Labor: 9,660 8,260 8,540 8,820 Total payments for direct labor 35,280 3,450 Manufacturing Overhead: Variable manufacturing overhead Utilities, insurance property taxes Total payments for manufacturing overhead 2,950 14,400 3,050 14.400 3,150 14,400 17,550 12,600 57,600 14,400 17.850 17,350 17,450 70.200 10.000 10,000 10,000 Selling and Administrative Expenses: Salaries Expense Rent Expense Insurance Expenso Supplies Expanse 10,000 2400 40,000 9,600 2400 2400 2.400 900 900 900 900 3.600 2.100 2.175 2.250 2325 8.850 Choose from any list or enter any number in the input fields and then click Check Answer. All parts showing Clear All MacBook Pro esc G Search or type URL @ $ % 5 1 2 3 4 6 W E R. Y Hyv The Gilder Tire Company manufactures racing tires for bicycles. Glass 10 $50 Gisid 13! (Click the icon to viow the balance sheet) Other data for Gilder Tire Company (Click the icon to view the other data) Read the requirements 2400 2400 2400 9,600 2.400 900 900 900 900 3,600 Rent Expense Insurance Expenso Supplies Expense Total payments for Selling and Admin. expenses 2.100 15,400 2,175 15,475 2,250 15,550 2,325 15,625 8,850 62,050 Income Taxes: Total payments for income taxes 1,500 1,500 1,500 1,500 6,000 Capital Expenditures: Total payments for capital expenditures 30,000 30,000 97,794 61,533 Total cash payments (before Interest) 61,460 60.115 280,902 Accounts Payable balance, December 31, 2017: th-O. 4 direct material purchases paid in Otr. 1 af 2018 3.228 Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear All MacBook esc c Search or type URL # 3 2 4 5 6 W E R. Y Click the icon to view the balance sheet) her data for Gilder Tire Company: Click the icon to view the other data.) ad the requirements Gilder Tire Company Cash Budget For the Year Ended December 31, 2017 First Second Third Quarter Quarter Quarter 35.000 30,206 30.883 64,000 71,500 74.000 Total Fourth Quarter 30,223 76,500 35,000 285,000 eginning cash balance esh receipts ash available 99,000 101,706 104,883 106,723 321,000 0 0 30.000 30,000 23,384 9660 0 18,420 16,620 ash payments Capital expenditures Purchases of direct materials Direct labor Manufacturing overhead Selling and administrative expenses Income taxes 18.948 8260 8820 8540 17.450 17.850 17,350 17,550 77,372 35.280 70,200 62,050 5,000 560 15,400 1,500 0 15,475 1.500 290 15,550 1,500 200 15,625 1,500 70 Interest expense 97,794 61,823 61.660 60.185 281,462 oose from any list or enter any number in the input fields and then click Check Answer parts showing Clear All MacBook Pro esc c G Search or type URL % # 3 1 2 4 5 6 Q W E R Y SP VOCO 17,550 15,625 4,00 70,200 62,050 1,500 70 6,000 560 The Gilder Tire Company manufactures racing tires for bicycles, Gilder Solsos TOP 50 C Click the icon to view the balance sheet) Other data for Gilder Tire Company (Click the icon to view the other data) Read the requirements WE DO GU OLUN OU Manufacturing overhead 17,850 17,350 17.450 Selling and administrative expenses 15,400 15,475 15,550 Income ances 1,500 1,500 1,500 0 290 Interest expense 200 97,794 61,823 Total cash payments 61,660 Ending cash balance before financing 1,206 39,883 43223 Minimum cash balance desired (30,000) (30,000) (30,000) Projected cash excess (do clancy) (28,794) 9.883 13,223 Financing Borrowing 29,000 0 0 0 Principal repayments (9.000) (13,000 Total effects of financing 29.000 (9,000) (13,000) Ending cash balance 30,206 30,883 30.223 60,185 281,462 46,538 46,538 (30,000) (30,000) 16,538 16,538 0 29,000 (29,000) (7,000) (7,000) 0 39,538 39,538 Requirement 2. Prepare Gilder's annual financial budget for 2017, including budgeted income statement, budgeted balance sheet, and b Begin with the budgeted income statement. (Complete all input boxes. Enter for any zoro balances. Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear All MACBOOK Pro esc G Search or type URL 2 3 4 5 6 Q W E R . Y The Gilder hire ompany Halius (Click the loon to view the balance sheet.) Other data for Gilder Tire Company: Click the icon to view the other data.) Read the requirements Review the selling and administrative expense budget you prepared above, Review the cash budget you prepared above Gilder Tire Company Budgeted Income Statement For the Year Ended December 31, 2017 Sales Revenue 295,000 Cost of Goods Sold 186,600 Gross Profit 108.400 Seling and Administrative Expenses 66,050 Operating incomo 42,350 Interest Expense 560 Income before Income Taxes 41,790 Income Tax Expenso 6,000 Net Income 35.790 Prepare the budgeted balance sheet. (Round to the nearest whole dollar) Review the production budget you prepared above. Review the direct materials budget you prepared above Choose from any list or enter any number in the input fields and then click Check Answer all parts showing Clear All MacBook P esc G Search or type URL 1 2 % 5 3 4 6 The Gider Tire Company manufactures racing tires for bicycles. Gilder sells tires for $50 each. Glider is planning for the next Click the icon to view the balance sheet.) Other data for Gilder Tire Company (Click the icon to view the other data) Read the requirements Budgeted Balance Sheet December 31, 2017 Assets Current Assets Cash Accounts Receivable Raw Materiais Inventory Finished Goods Inventory Total Current Assets Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation Total Assets Liabilities Current Liabilities: Accounts Payable Stockholders' Equity Choose from any list or enter any number in the input fields and then click Check Answer. All parts showing Clear esc # 1 2 3 4 5 6. nstructor-created question The Gider Tire Company manufactures racing tires for bicycles. Gilder sells tires for 50 each Gilder is planning for the next year by deve (Click the icon to view the balance sheet.) Other data for Gilder Tire Company: (Click the icon to view the other data) Read the requirements Accounts Receivable Raw Materials Inventory Finished Goods Inventory Total Current Assets Property. Plant, and Equipment: Equipment Less: Accumulated Depreciation Total Assets Liabilities Current Liabilities: Accounts Payable Stockholders' Equity Common Stock, no par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear All MECBOOK PO esc 2 3 4 5 6