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can you do all three requirements Requirement 1. Prepare Vinning's sales budget for April and May 2018. Round all amounts to the nearest dollar. Vinning
can you do all three requirements
Requirement 1. Prepare Vinning's sales budget for April and May 2018. Round all amounts to the nearest dollar. Vinning Office Supply Requirements Sales Budget April and May, 2018 April May 1. Prepare Vinning's sales budget for April and May 2018. Round all calculations to the nearest dollar. Total budgeted sales 2. Prepare Vinning's inventory, purchases, and cost of goods sold budget for April and May. 3. Prepare Vinning's selling and administrative expense budget for April and May. Vinning Office Supply Balance Sheet March 31, 2018 Assets Current Assets: Cash S 18,000 20,000 Accounts Receivable Merchandise Inventory 20,500 2,500 i More Info fint Done $ $ 61,000 Prepaid Insurance Total Current Assets Property, Plant, and Equipment: Equipment and Fixtures 52,000 (20,000) 32,000 Less: Accumulated Depreciation $ 93,000 Total Assets a. Sales in April are expected to be $100,000. Vinning forecasts that monthly sales will increase 2% over April sales in May. June's sales will increase by 4% over April sales. July sales will increase 20% over April sales. b. Vinning maintains inventory of $8,000 plus 25% of the cost of goods sold budgeted for the following month. Cost of goods sold equal 50% of sales revenue. c. Monthly salaries amount to $3,000. Sales corrirmissions equal 5% of sales for that month. d. Other monthly expenses are as follows: Rent: $2,600 Depreciation: $500 Insurance: 5300 Income tax: $1,800 Llabilities Current Liabilities: Accounts Payable S 12,000 1,900 Salaries and Commissions Payable Clear AllStep by Step Solution
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