Data Table Fountain Office Supply Balance Sheet March 31, 2018 Assets Current Assets: Toll Cash 35,000 Red May 32,000 d 34,500 1,400 Accounts Receivable Merchandise Inventory Prepaid Insurance Total Current Assets Property. Plant, and Equipment: Equipment and Fixtures Less: Accumulated Depreciation 102,900 60,000 (23,000) 37,000 Total Assets $ 139,900 Cho ques Print Done 0 Data Table x Troporty, Tom, unu yumoris. Equipment and Fixtures 60,000 (23,000) Less: Accumulated Depreciation 37,000 Total Assets $ 139,900 Liabilities Tod Red May 10,000 2,400 12,400 Current Liabilities: Accounts Payable $ Salaries and Commissions Payable Total Liabilities Stockholders' Equity Common Stock, no par Retained Earnings I Total Stockholders' Equity Total Liabilities and Stockholders' Equity Cho Print Done 21,000 106,500 127,500 139,900 $ que buntain Office Supply's March 31, 2018, balance heet follows: The budget committee of Fountain Office Sup has assembled the following data: A Cink the icon to view the date Click the icon to view the balance boat * More Info X a. Ass Sales in April are expected to be $220,000. Fountain 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. Fountain maintains inventory of $7,000 plus 25% of the cost of goods sold budgeted for the following month. Cost of goods sold equal 50% of sales revenue. Monthly salaries amount to $4,000. Sales commissions equal 5% of sales for that month d. Other monthly expenses are as follows: Rent: $3,000 Depreciation: $400 Insurance: $300 Income tax: $2,500 c. . Print Done Choose from any list or enter any number in the input fields and then continue to the next question Fountain Office Supply's March 31, 2018, balance sheet follows: Click the icon to view the balance sheet.) The budget committee of Fountain Office Supply has assembled the following data: Click the icon to view the data.) Read the requirements Requirement 1. Prepare Fountain's sales budget for April and May 2018. Round all amounts to the nearest dollar Ass Fountain Office Supply Sales Budget April and May, 2018 April May Total budgeted sales Requirement 2. Prepare Fountain's inventory, purchases, and cost of goods sold budget for April and May Fountain Supply Company Inventory, Purchases, and cost of Goods Sold Budget Choose from any list or enter any number in the input fields and then continue to the next question ? sheet follows: (Click the icon to view the balance sheet.) has assembled the following data: Click the icon to view the data.) Read the requirements Fountain Supply Company Inventory, Purchases, and Cost of Goods Sold Budget April and May, 2018 April Ass May ost of goods sold Plus: Desired ending merchandise inventory Total merchandise inventory required Less: Beginning merchandise inventory Budgeted Purchases Requirement 3. Prepare Fountain's selling and administrative expense budget for April and May. Fountain Office Supply Choose from any list or enter any number in the input fields and then continue to the next question Read the requirements, Requirement 3. Prepare Fountain's selling and administrative expense budget for April and May. Ass Fountain Office Supply Selling and Administrative Expense Budget . April and May, 2018 April May Variable expenses: Commissions Expense Fixed expenses: Salaries Expense Rent Expense Depreciation Expense Choose from any list or enter any number in the lanalda LANAN Read the requirements. April and May, 2018 April May Variable expenses: Ass Commissions Expense Fixed expenses: Salaries Expense Rent Expense Depreciation Expense Insurance Expense Total fixed expenses Total selling and administrative expenses Choose from any list or enter any number in the input fields and then continue to the next question. 11/09/20 Chanter 24 yam
