ma Accounting 202-02 Online Spring 202-02 Intro to Managerial Acct 1 of 1 1 completo) Homework: Budgeting Project Score: 0.4 of 1 pt PM7-41A (book/static) The Gerard Tire Company manufactures racing tires for bicycles. Gerard sells tires for $90 each. Gerard is planning for the next year by developing a master budget by quarters. Gerard's balance sheet for December 31, 2024, follows: I (Cick the icon to view the balance sheet.) Other data for Gerard Tire Company: (Click the icon to view the other data) Read the requirements Cash Receipts from Customers Third First Second Quarter Fourth Quarter Total Quarter Quarter Total sales First Quarter Second Quarter Third Quarter Fourth Quarter Total Cash Receipts from Customers Accounts Receivable balance, December 31, 2024 1st Ou-Cash sales 1st Otr-Credit sales, collection of Otr. 1 sales in Otr. 1 1st Otr --Credit sales, collection of Otr. sales in Otr. 2 2nd Or-Cash salos 2nd Otr - Credit salos, collection of our 2 sales in Otr. 2 2nd Or-Credit sales, collection of Otr. 2 sales in O3 3rd Or-Cash sales in the art fields and then click Check Answer Other data for Gerard Tire i (Click the icon to view Read the requirements x PM7-41A (book/static) The Gerard Tire Company manufactures racing tires for bicycles. Gerard sells tires for $90 each. Gerard is planning for the next year by developing a master budget by quarters. Gerard's balance sheet for December 31, 2024, follows: (Click the icon to view the balance sheet.) 1st Qtr ---Credit sales, collection of Qtr. 1 sales in Qtr. 1 1st Qtr.--Credit sales, collection of Qtr. 1 sales in Qtr. 2 2nd Qtr-Cash sales 2nd Qtr.-Credit sales, collection of Qtr. 2 sales in Qtr. 2 2nd Qtr.-Credit sales, collection of Qtr. 2 sales in Qtr. 3 3rd Qtr-Cash sales 3rd Qtr. Credit sales, collection of Qtr. 3 sales in Qtr. 3 3rd Qtr-Credit sales, collection of Qtr. 3 sales in Qtr. 4 4th Qtr-Cash sales 4th Qtr-Credit sales, collection of Qtr. 4 sales in Qtr. 4 Total cash receipts from customers Accounts Receivable balance, December 31, 2025: 4th Qtr.-Credit sales, collection of Qtr. 4 sales in Qtr. 1 of 2026 Enter any number in the edit fields and then click Check Answer. 10 parts remaining Clear All Data Table Gerard Tire Company Balance Sheet December 31, 2024 Assets Current Assets: $ 56,000 Cash 20,000 Accounts Receivable 5,100 9,900 Raw Materials Inventory Finished Goods Inventory Total Current Assets $ 91.000 Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation 194,000 (42,000) 152,000 $ 243,000 Total Assets Liabilities Current Liabilities: $ 8,000 Accounts Payable Stockholders' Equity $ Common Stock, no par Retained Earnings 120,000 115,000 235,000 Total Stockholders' Equity $ 243,000 Total Liabilities and Stockholders' Equity ma Accounting 202-02 Online Spring 202-02 Intro to Managerial Acct 1 of 1 1 completo) Homework: Budgeting Project Score: 0.4 of 1 pt PM7-41A (book/static) The Gerard Tire Company manufactures racing tires for bicycles. Gerard sells tires for $90 each. Gerard is planning for the next year by developing a master budget by quarters. Gerard's balance sheet for December 31, 2024, follows: I (Cick the icon to view the balance sheet.) Other data for Gerard Tire Company: (Click the icon to view the other data) Read the requirements Cash Receipts from Customers Third First Second Quarter Fourth Quarter Total Quarter Quarter Total sales First Quarter Second Quarter Third Quarter Fourth Quarter Total Cash Receipts from Customers Accounts Receivable balance, December 31, 2024 1st Ou-Cash sales 1st Otr-Credit sales, collection of Otr. 1 sales in Otr. 1 1st Otr --Credit sales, collection of Otr. sales in Otr. 2 2nd Or-Cash salos 2nd Otr - Credit salos, collection of our 2 sales in Otr. 2 2nd Or-Credit sales, collection of Otr. 2 sales in O3 3rd Or-Cash sales in the art fields and then click Check Answer Other data for Gerard Tire i (Click the icon to view Read the requirements x PM7-41A (book/static) The Gerard Tire Company manufactures racing tires for bicycles. Gerard sells tires for $90 each. Gerard is planning for the next year by developing a master budget by quarters. Gerard's balance sheet for December 31, 2024, follows: (Click the icon to view the balance sheet.) 1st Qtr ---Credit sales, collection of Qtr. 1 sales in Qtr. 1 1st Qtr.--Credit sales, collection of Qtr. 1 sales in Qtr. 2 2nd Qtr-Cash sales 2nd Qtr.-Credit sales, collection of Qtr. 2 sales in Qtr. 2 2nd Qtr.-Credit sales, collection of Qtr. 2 sales in Qtr. 3 3rd Qtr-Cash sales 3rd Qtr. Credit sales, collection of Qtr. 3 sales in Qtr. 3 3rd Qtr-Credit sales, collection of Qtr. 3 sales in Qtr. 4 4th Qtr-Cash sales 4th Qtr-Credit sales, collection of Qtr. 4 sales in Qtr. 4 Total cash receipts from customers Accounts Receivable balance, December 31, 2025: 4th Qtr.-Credit sales, collection of Qtr. 4 sales in Qtr. 1 of 2026 Enter any number in the edit fields and then click Check Answer. 10 parts remaining Clear All Data Table Gerard Tire Company Balance Sheet December 31, 2024 Assets Current Assets: $ 56,000 Cash 20,000 Accounts Receivable 5,100 9,900 Raw Materials Inventory Finished Goods Inventory Total Current Assets $ 91.000 Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation 194,000 (42,000) 152,000 $ 243,000 Total Assets Liabilities Current Liabilities: $ 8,000 Accounts Payable Stockholders' Equity $ Common Stock, no par Retained Earnings 120,000 115,000 235,000 Total Stockholders' Equity $ 243,000 Total Liabilities and Stockholders' Equity
