Chair Printing supply of Dollimore has applied for a loan its bank has requested a budgeted income statement for April 2024 and budgeted balance sheet at Apr 30, 2024 The March 31, 2024 balance sheet follows (Click the icon to view the balance sheet) As Chal Printing Supply controller you have the following additional (Click the icon to the information Read the Requirement 1. Prepare the sales budget for April Chair Printing Supply Sales Budget For the Month Ended April 30.2924 Total budgeted sales Chair Printing Supply Balance Sheet March 31, 2024 Assets Current Assets Cash S 50.800 Accounts Receivable 14,400 Merchandise Inventory 12 500 Total Current Assets $ 77.700 Property. Plant and Equipment Equipment and Fixtures 81.200 (12.400 Less. Accumulated Depreciation 68.800 5 146.500 hation) Property. Plant and Equipment: Equipment and Fixtures Less: Accumulated Depreciation 81,200 (12,400) 68.800 Total Assets S 146,500 Liabilities Current Liabilities: Accounts Payable S 7,800 Stockholders' Equity $ Common Stock, no par 20.000 118.700 N Retained Earnings Total Stockholders Equity 138.700 Total Liabilities and Stockholders' Equity 146,500 Print Done 1. Prepare the sales budget for April. 2. Prepare the inventory, purchases, and cost of goods sold budget for April. 3. Prepare the selling and administrative expense budget for April. 4. Prepare the schedule of cash receipts from customers for April . 5. Prepare the schedule of cash payments for selling and administrative expenses for April 6. Prepare the cash budget for April. Assume the company does not use short-term financing to maintain a minimum cash balance 7. Prepare the budgeted Income statement for April 8. Prepare the budgeted balance sheet at April 30. 2024 Print Done Sla Chair Printing Supply of Baltimore has applied for a loan. Its bank has requested a budgeted income statement for April 2024 and budgeted balance sheet at April 30, 2024. The March 31, 2024, balance sheet follows: (Click the icon to view the balance sheet) Requirement 1. Prepare the sales budget for April Chair Printing Supply Sales Budget For the Month Ended April 30, 2024 Total budgeted sales e. a. April dividends of $4,500 were declared and paid. b. April capital expenditures of $16,500 budgeted for cash purchase of equipment c. April depreciation expense, $600. d. Cost of goods sold, 45% of sales. Desired ending inventory for April is $27. 100. f. April selling and administrative expenses include salaries of $38,000. 30% 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 5% of sales, all paid in April h. April budgeted sales. $85,000.65% collected in April and 35% in May. i. April cash payments of March 31 liabilities incurred for March purchases of inventory, $7 800 j. April purchases of inventory $15.650 for cash and $37 200 on account. Half the credit purchases will be paid in April and half in May
