HW Score: 8.82%, 0.88 of 10 point pints: 0.88 of 10 e Supply's March 31 Data table X the icon to view the tee of Ruler Office Supply has to view the data.) Prepaid Insurance Total Current Assets ents. 73,800 Property, Plant, and Equipment: Equipment and Fixtures 34,000 Ruler C Less: Accumulated Depreciation (23,000) 11,000 Sale Total Assets $ 84,800 April a Liabilities Current Liabilities: geted sales Accounts Payable 12,000 ent 2. Prepare Ruler Salaries and Commissions Payable 6, 125 Total Liabilities $ 18, 125 Invento Stockholders' Equity Common Stock, no par 18,000 48,675 Retained Earnings 66,675 ending merchandise Total Stockholders' Equity $ 84,800 Cost of goods sold Total Liabilities and Stockholders' Equity rchandise inventory re Beginning merchandis ed Purchases Print Done Cle et more help -Ruler Office Supply's March 31, 2024, balance sheet follows: U The budget committee of Ruler Office Supply has assembl Requirement 1. Prepare Ruler's sales budget for April and May 2024. Round all amounts to the nearest dollar. Ruler Office Supply Sales Budget April and May, 2024 April May Total budgeted sales 5 140,000 $ 142,800 Requirement 2. Prepare Ruler's inventory, purchases, and cost of goods sold budget for April and May. Ruler Supply Company Inventory, Purchases, and Cost of Goods Sold Budget April and May, 2024 April May Desired ending merchandise inventory Plus: Cost of goods sold Total merchandise inventory required Less: Beginning merchandise inventory Budgeted Purchases Clear all ages Get more help - 88.F Mostly sunny m 5 Wffice Supply's March 31, 2024, balance sheet follows: The budget committee of Ruler Office ck the icon to view the balance sheet.) (Click the icon to view the data.) Read the requirements. X More info a. Sales in April are expected to be $140,000. Ruler 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. Ruler 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 budgeted sales C. Monthly salaries amount to $6,000. Sales commissions equal 5% of sales for that month d. Other monthly expenses are as follows: rement 2. Prep . Rent: $2,600 . Depreciation: $400 . Insurance: $300 . Income tax: $1,700 ed ending mere Print Done Cost of good merchandise in Beginning merchandise inventory eted Purchases Get more help -pints: 0.88 of 10 Data table X ifice Supply's March 31 k the icon to view the Itee of Ruler Office Supply has as to view the data.) Ruler Office Supply ents Balance Sheet March 31, 2024 Ruler Assets Sale Current Assets: April a Cash $ 26,000 Accounts Receivable 22,000 Merchandise Inventory 24,500 budgeted sales Prepaid Insurance 1,300 rement 2. Prepare Ruler Total Current Assets S 73,800 Property, Plant, and Equipment: Invento Equipment and Fixtures 34,000 (23,000) 11,000 Less: Accumulated Depreciation S 84,800 Total Assets ed ending merchandise Liabilities Cost of goods sold Current Liabilities: merchandise inventory re Beginning merchandis eted Purchases Print Done Clea Get more help - 88 F Mostly sunny