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Data Table . a. March 31 equipment balance, $52,800, accumulated depreciation, $41,300 b. April capital expenditures of $42,600 budgeted for cash purchase of equipment C. April depreciation expense, $300. d. Cost of goods sold, 60% of sales e. Other April operating expenses, including income tax, total $13,000, 25% of which will be paid in cash and the remainder accrued at April 30 f. March 31 owners' equity, $92,900 g. March 31 cash balance, $40,000 h. April budgeted sales, $84,000, 70% of which is for cash Of the remaining 30%, half will be collected in April and half in May i. April cash collections on March sales, $29 700. j. April cash payments of March 31 liabilities incurred for March purchases of inventory, $17,800 K. March 31 inventory balance, $29,500 1. April purchases of inventory, $10,000 for cash and $36,200 on credit Half of the credit purchases will be paid in April and half in May Requirements 1. Prepare the budgeted balance sheet for Chair Medical Supply at April 30. Show separate computations for cash, inventory, and owners' equity balances 2. Prepare the combined cash budget for April 3. Suppose Chair Medical Supply has become aware of more efficient and more expensive) equipment than it budgeted for purchase in April. What is the total amount of cash available for equipment purchases in April, before financing, if the minimum desired ending cash balance is $13,000? (For this requirement disregard the $42,600 initially budgeted for equipment purchases.) 4. Before granting a loan to Chair Medical Supply, Marine National Bank asks for a sensitivity analysis assuming that April sales are only $56,000 rather than the $84,000 originally budgeted (While the cost of goods sold will change, assume that purchases, depreciation, and the other operating expenses will remain the same as in the earlier requirements.) a. Prepare a revised budgeted balance sheet for Chair Medical Supply, showing separate computations for cash inventory, and owners' equity balances b. Suppose Chair Medical Supply has a minimum desired cash balance of $19.000 Will the company need to borrow cash in April? Print Done Requirement 1. Show separate computations for cash, inventory, and owners' equity balances Begin by calculating the cash balance Cash Beginning balance Cash inflows Cash sales Collections Cash outflows Payment of March liabilities Cash purchases Payments for April (credit) purchases Purchase of equipment Operating expenses Ending balance Calculate the inventory balance Inventory Beginning balance Add Purchases Less Cost of goods sold Ending balance Calculate the owners' equity balance Owners' Equity Beginning balance Add Revenues Less Expenses Ending balance Prepare the budgeted balance sheet for Chair Medical Supply at Apnt 30 HI Type here to search Prepare the budgeted balance sheet for Chair Medical Supply at April 30. Chair Medical Supply Budgeted Balance Sheet April 30 Assets Current assets Cash Accounts receivable Inventory Total current assets Plant assets Equipment Accumulated depreciation Total assets Liabilities Current liabilities Accounts payable Accrued expenses payable Read the fequirements Total liabilities Owners' Equity Owners' equity Total liabilities and owners' equity Requirement 2. Prepare the combined cash budget for April Chair Medical Supply Combined Cash Budget For the Month Ended April 30 Beginning cash balance, April 1 Plus Cash collections from customers Total cash available Less cash payments Purchases Operating expenses Acquisition of equipment Ending cash balance April 30 Requirement 3. Suppose Chair Medical Supply has become aware of more efficient (and more exuensive) ement 3. Cat Medical Supoly become more intend more convocanited for sein on What the amount of the frequent comment on om desired ends wance is $13.0002 octorem fegade 42 600 ni bugun uchases mount och lite for our purchasin Albatore father der endng cash co 513,000 and won 540.000 staly bug remarche rement. Before granting to Chan Medical Spar National Bank asks for a sensitive analyse assuming $56,00 rater than the 5 000 ronaly budocted. We cost orgoods sowe Yach den and the other comes mor er det conto Bolonce shot to Chardical suo showny pale computation och weiter and was quity cestion by can be cash ace Round amounts for two Cash be now Cotone Church The of Time Remington Calculate the inventory balance. (Round amounts to the nearest whole dollar) Inventory Beginning balance Add Purchases Less Cost of goods sold Ending balance Calculate the owners' equity balance (Round amounts to the nearest whole dollar) Owners' Equity Beginning balance Add Revenues Less Expenses Ending balance Prepare the budgeted balance sheet for Chair Medical Supply at April 30. Chair Medical Supply Budgeted Balance Sheet April 30 Assets Current assets Cash Accounts receivable Inventory Total current assets Plant assets Equipment Accumulated depreciation Total assets Liabilities Current liabilities Accounts payable Accrued expenses payable (Click the icon to view the information) Read the requirements Total current assets Plant assets Equipment Accumulated depreciation Total assets Liabilities Current liabilities: Accounts payable Accrued expenses payable Total liabilities Owners' Equity Owners' equity Total liabilities and owners' equity b. Suppose Chair Medical Supply has a minimum desired cash balance of S19,000 Will the company need to borrow cash in April? The company have to borrow cash in April if sales revenue is $56,000. The company's cash balance is than the minimum balance of $19.000