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As P addit Professional 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.) Read Requirement 1. Prepare the sales budget for April. Professional Printing Supply Sales Budget For the Month Ended April 30, 2024 Total budgeted sales o A Requirement 2. Prepare the inventory, purchases, and cost of goods sold budget for April. Professional Printing Supply Inventory, Purchases, and Cost of Goods Sold Budget For the Month Ended April 30, 2024 ype here to search o O | 99+ As Professional Printing Supply's controller, you have assembled the following additional information: (Click the icon to view the information.) Read the requirements. w April Professional Printing Supply Balance Sheet March 31, 2024 Assets Current Assets: Cash Accounts Receivable Merchandise Inventory Total Current Assets Property, Plant, and Equipment: 51,000 14,400 11,600 & $ 77,000 33 o 99+ ent for April 2024 and budgeted balance 1,2024, balance sheet follows: e sheet.) additional information: (Click the icon to view the information.) - Data Table Total Current Assets S 77,000 Property, Plant, and Equipment: Equipment and Fixtures 80,900 (12,700) 68,200 $ Less: Accumulated Depreciation Total Assets Liabilities 145,200 Current Liabilities: h Accounts Payable $ 8,400 Stockholders' Equity $ Common Stock, no par $ 40,000 O B 33% 99+ A FS F10 F11 FO FM F6 F7 Data Table Less. Accumulated Depreciation (12,700) 68,200 $ 145,200 $ 8,400 Total Assets Liabilities Current Liabilities: Accounts Payable Stockholders' Equity Common Stock, no par $ Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 40,000 96,800 136,800 $ 145,200 o BI 33% 99+ P F11 F5 F10 FO Fa F6 F F4 ey Delsalto Personal Microsoft Edge ww.mathx.com/Student/PlayerTest.aspx?testid=2347617348.centerwin-yes 063 Fall 2021 Bailey Dels More Info 21 a. April dividends of $6,000 were declared and paid. b. April capital expenditures of $16,600 budgeted for cash purchase of equipment C. April depreciation expense, $700. d. Cost of goods sold, 60% of sales e. Desired ending inventory for April is $22,800 f. April selling and administrative expenses include salaries of $29,000, 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, 70% collected in April and 30% in May. 1 April cash payments of March 31 liabilities incurred for March purchases of inventory $8.400, April purchases of inventory, $24.400 for cash and $37.800 on account. Half the credit purchases will be paid in April and half in May. ee 1. 01 ent Print Done Ini o O BI 99 X fout Requirements . 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 O O 33% 99+ Door *** Requirement 1. Prepare the sales budget for April Professional Printing Supply Sales Budget For the Month Ended April 30, 2024 Total budgeted sales Requirement 2. Prepare the inventory purchases, and cost of goods sold budget for April. Professional Printing Supply Inventory, Purchases, and Cost of Goods Sold Budget For the Month Ended April 30, 2024 Plus: Total merchandise inventory required Less: to search o o BI 99+ - ac F3 UI Dalle as applied for a loan. its bank has As Professior Less: Budgeted Purchases Requirement 3. Prepare the selling and administrative expense budget for April. Professional Printing Supply Selling and Administrative Expense Budget For the Month Ended April 30, 2024 Variable expenses: hos Fixed expenses: Total fixed expenses Total selling and administrative expenses here to search O O RI CH 99+ 13 FT - 62 + F9 e D FO FB @ # $ % As Professional Printing Su Professional Printing Supply of Baltimore has applied for a loan. Its bank has Total selling and administrative expenses Requirement 4. Prepare the budgeted cash receipts from customers for April. Professional Printing Supply Budgeted Cash Receipts from Customers For the Month Ended April 30, 2024 Current month sales, 70% Prior month sales, 30% Total cash receipts Requirement 5. Prepare the budgeted cash payments for selling and administrative expenses for April Professional Printing Supply Budgeted Cash Payments for Selling and Administrative Expenses For the Month Ended April 30, 2024 Variable expenses: ere to search O RE 31 99+ ng X c - F2 FS F FS F @ } % 5 00 N & 7 2 3 4 6 8 W TE U DUppys Got Toner you have assemble DERE Variable expenses: Miscellaneous expenses Fixed expenses: 30% of current month's salaries expense Total payments for selling and administrative expenses Requirement 6. Prepare the cash budget for April. Assume the company does not use short-term financing to maintain a minimum cash balance Review the budgeted cash receipts from customers you prepared above. Review the budgeted cash payments for selling and administrative expenses you prepared above. Professional Printing Supply Cash Budget For the Month Ended April 30, 2024 husisha Cash available Cash payments: 7 Total cash payments Ending cash balance Requirement 7. Prepare the budgeted income statement for April. Review the sales budget you prepared above. Review the selling and administrative expense budget you prepared above. Review the inventory, purchases, and cost of goods sold budget you prepared above. Professional Printing Supply Budgeted Income Statement Gross Profit Selling and Administrative Expenses: Total Selling and Administrative Expenses Net income (loss) Requirement 8. Prepare the budgeted balance sheet at April 30, 2024. Review the cash budget you prepared above. Professional Printing Supply Budgeted Balance Sheet be here to search O TET 99+ 25+ ... April 30, 2024 Assets Current Assets: w Total Current Assets Property, Plant, and Equipment: Total Assets Liabilities Current Liabilities: Professional Printing Supply of Baltimore has applied for a loan. Its bank has As Professiona Total Assets Liabilities Current Liabilities: Total Liabilities Stockholders' Equity Total Stockholders' Equity Total Liabilities and Stockholders' Equity ype here to search o O TID 99+ Fr F ES e FE * N . 1 A 2 % 5 3 4 6 S & 7 8 As P addit Professional 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.) Read Requirement 1. Prepare the sales budget for April. Professional Printing Supply Sales Budget For the Month Ended April 30, 2024 Total budgeted sales o A Requirement 2. Prepare the inventory, purchases, and cost of goods sold budget for April. Professional Printing Supply Inventory, Purchases, and Cost of Goods Sold Budget For the Month Ended April 30, 2024 ype here to search o O | 99+ As Professional Printing Supply's controller, you have assembled the following additional information: (Click the icon to view the information.) Read the requirements. w April Professional Printing Supply Balance Sheet March 31, 2024 Assets Current Assets: Cash Accounts Receivable Merchandise Inventory Total Current Assets Property, Plant, and Equipment: 51,000 14,400 11,600 & $ 77,000 33 o 99+ ent for April 2024 and budgeted balance 1,2024, balance sheet follows: e sheet.) additional information: (Click the icon to view the information.) - Data Table Total Current Assets S 77,000 Property, Plant, and Equipment: Equipment and Fixtures 80,900 (12,700) 68,200 $ Less: Accumulated Depreciation Total Assets Liabilities 145,200 Current Liabilities: h Accounts Payable $ 8,400 Stockholders' Equity $ Common Stock, no par $ 40,000 O B 33% 99+ A FS F10 F11 FO FM F6 F7 Data Table Less. Accumulated Depreciation (12,700) 68,200 $ 145,200 $ 8,400 Total Assets Liabilities Current Liabilities: Accounts Payable Stockholders' Equity Common Stock, no par $ Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 40,000 96,800 136,800 $ 145,200 o BI 33% 99+ P F11 F5 F10 FO Fa F6 F F4 ey Delsalto Personal Microsoft Edge ww.mathx.com/Student/PlayerTest.aspx?testid=2347617348.centerwin-yes 063 Fall 2021 Bailey Dels More Info 21 a. April dividends of $6,000 were declared and paid. b. April capital expenditures of $16,600 budgeted for cash purchase of equipment C. April depreciation expense, $700. d. Cost of goods sold, 60% of sales e. Desired ending inventory for April is $22,800 f. April selling and administrative expenses include salaries of $29,000, 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, 70% collected in April and 30% in May. 1 April cash payments of March 31 liabilities incurred for March purchases of inventory $8.400, April purchases of inventory, $24.400 for cash and $37.800 on account. Half the credit purchases will be paid in April and half in May. ee 1. 01 ent Print Done Ini o O BI 99 X fout Requirements . 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 O O 33% 99+ Door *** Requirement 1. Prepare the sales budget for April Professional Printing Supply Sales Budget For the Month Ended April 30, 2024 Total budgeted sales Requirement 2. Prepare the inventory purchases, and cost of goods sold budget for April. Professional Printing Supply Inventory, Purchases, and Cost of Goods Sold Budget For the Month Ended April 30, 2024 Plus: Total merchandise inventory required Less: to search o o BI 99+ - ac F3 UI Dalle as applied for a loan. its bank has As Professior Less: Budgeted Purchases Requirement 3. Prepare the selling and administrative expense budget for April. Professional Printing Supply Selling and Administrative Expense Budget For the Month Ended April 30, 2024 Variable expenses: hos Fixed expenses: Total fixed expenses Total selling and administrative expenses here to search O O RI CH 99+ 13 FT - 62 + F9 e D FO FB @ # $ % As Professional Printing Su Professional Printing Supply of Baltimore has applied for a loan. Its bank has Total selling and administrative expenses Requirement 4. Prepare the budgeted cash receipts from customers for April. Professional Printing Supply Budgeted Cash Receipts from Customers For the Month Ended April 30, 2024 Current month sales, 70% Prior month sales, 30% Total cash receipts Requirement 5. Prepare the budgeted cash payments for selling and administrative expenses for April Professional Printing Supply Budgeted Cash Payments for Selling and Administrative Expenses For the Month Ended April 30, 2024 Variable expenses: ere to search O RE 31 99+ ng X c - F2 FS F FS F @ } % 5 00 N & 7 2 3 4 6 8 W TE U DUppys Got Toner you have assemble DERE Variable expenses: Miscellaneous expenses Fixed expenses: 30% of current month's salaries expense Total payments for selling and administrative expenses Requirement 6. Prepare the cash budget for April. Assume the company does not use short-term financing to maintain a minimum cash balance Review the budgeted cash receipts from customers you prepared above. Review the budgeted cash payments for selling and administrative expenses you prepared above. Professional Printing Supply Cash Budget For the Month Ended April 30, 2024 husisha Cash available Cash payments: 7 Total cash payments Ending cash balance Requirement 7. Prepare the budgeted income statement for April. Review the sales budget you prepared above. Review the selling and administrative expense budget you prepared above. Review the inventory, purchases, and cost of goods sold budget you prepared above. Professional Printing Supply Budgeted Income Statement Gross Profit Selling and Administrative Expenses: Total Selling and Administrative Expenses Net income (loss) Requirement 8. Prepare the budgeted balance sheet at April 30, 2024. Review the cash budget you prepared above. Professional Printing Supply Budgeted Balance Sheet be here to search O TET 99+ 25+ ... April 30, 2024 Assets Current Assets: w Total Current Assets Property, Plant, and Equipment: Total Assets Liabilities Current Liabilities: Professional Printing Supply of Baltimore has applied for a loan. Its bank has As Professiona Total Assets Liabilities Current Liabilities: Total Liabilities Stockholders' Equity Total Stockholders' Equity Total Liabilities and Stockholders' Equity ype here to search o O TID 99+ Fr F ES e FE * N . 1 A 2 % 5 3 4 6 S & 7 8