Do Homework - Elizabeth Rios - Google Chrome mathu.com/StudentPlayerHomework.aspx?homeworkid552307295&questionid=1&flushed-false&id=5842878.centerwine MANAGERIAL ACCOUNTING FOR THE HOSPITALITY INDUSTRY HFT 4474 Elizabeth Rosa Homework: Homework 6 1 of 1 (1 completo) HW Score Score: 9.71 of 10 pts P22-42A (similar to) Cube Office Supply's March 31, 2018, balance sheet follows (Click the icon to view the balance sheet.) The budget committee of Cube Office Supply has assembled the following dal (Click the loon to view the data) Read the requirements Requirement 1. Prepare Cube's sales budget for April and May 2018. Round all amounts to the nearest dollar Cube Office Supply Sales Budget April and May, 2018 April Mary Total budgeted sales Enter any number in the edit fields and then click Check Answer 2 parts Clear All 2 remaining Type here to search t follows: The budget committee of Cube Office Supply has i More Info a. Sales in April are expected to be $40,000. Cube 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. Cube 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. Monthly salaries amount to $4,000. Sales commissions equal 5% of sales for that month. Other monthly expenses are as follows: Rent: $3,000 Depreciation: $600 Insurance: $400 Income tax: $2,500 d. Print Done Clear All i Data Table llows and Cube Office Supply Balance Sheet March 31, 2018 Assets Current Assets: 15,000 21,000 13,000 1,500 Cash Accounts Receivable Merchandise Inventory Prepaid Insurance Total Current Assets Property, Plant, and Equipment: Equipment and Fixtures 50,500 61,000 heck Print [Done Print Done 1 of 1 (1 complete) Data Table Equipment and Fixtures Less: Accumulated Depreciation 61,000 (26,000) 35,000 85,500 Total Assets Liabilities Current Liabilities: Accounts Payable Salaries and Commissions Payable Total Liabilities Stockholders' Equity Common Stock, no par Retained Earnings 13,000 5,250 $ 18,250 13,000 54,250 67.250 Print Done Data Table $ 85,500 13,000 5,250 Total Assets Liabilities Current Liabilities: Accounts Payable Salaries and Commissions Payable Total Liabilities Stockholders' Equity Common Stock, no par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity $ 18,250 13,000 54,250 67.250 85,500 $ Print Done