MayJuneJ $72,000 $82,000 $92,000 $98,000 Thornton had a beginning inventory balance of $3,600 on April 1 and a beginning balance in accounts payable of $14,500. The company desires to maintain an ending inventory balance equal to 10 percent of the next period's cost of goods sold. Thornton makes all purchases on account. The company pays 60 percent of accounts payable in the month of purchase and the remaining 40 percent in the Required a. Prepare an inventory purchases budget for April, May, and June. b. Determine the amount of ending inventory Thornton will report on the end-of-quarter pro forma balance sheet c. Prepare a schedule of cash payments for inventory for April, May, and June. d. Determine the balance in accounts payable Thornton will report on the end-of-quarter pro forma balance sheet Complete this question by entering your answers in the tabs below Required A Required B Required C Required D an S 72,000 S 82,000 S 92,000 9,200 90200 101,200 36,000 108,000 purchases (on account) S 108,000$ 0,200101,200 Prev 5 of 7 Next> 17 5 $72,000 $82,000 $92,000 $98,000 Thornton had a beginning inventory balance of $3,600 on April 1 and a beginning balance in accounts payable of $14,500. The company desires to maintain an ending inventory balance equal to 10 percent of the next period's cost of goods sold. all purchases on account. The company pays 60 percent of accounts payable in the month of purchase and the remaining 40 percent in the month following purchase. 4.28 Required a. Prepare an inventory purchases budget for April, May, and June. b. Determine the amount of ending inventory Thornton will report on the end-of-quarter pro forma balance sheet c. Prepare a schedule of cash payments for inventory for April, May, and June. d. Determine the balance in accounts payable Thornton will report on the end-of-quarter pro forma balance sheet. Complete this question by entering your answers in the tabs below Required A Required B Required C Required D Determine the amount of ending inven ry Thornton will report on the end-of-quarter pro forma balance sheet. Prev 5 of 7 Next > 17 $72,000 $82,000 $92,000 $98,000 Thornton had a beginning inventory balance of $3,600 on April 1 and a beginning balance in accounts payable of $14,500. The company desires to maintain an ending inventory balance equal all purchases on account. The company pays 60 percent of accounts payable in the month of purchase and the remaining 40 percent in the month following purchase. to 10 percent of the next period's cost of goods sold. Thornton makes Required es a. Prepare an inventory purchases budget for April, May, and June. b. Determine the amount of ending inventory Thornton will report on the end-of-quarter pro forma balance sheet c. Prepare a sched d. Determine the balance in accounts payable Thornton will report on the end-of-qu ule of cash payments for inventory for April, May, and June. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D May, and June. (Rou your final answers to the nearest whole dollar.) Payment of Prev 5 of 7E Next> 5 Budgeted cost of goods sold $72,000 $82,000 $92,000 $98,000 Thornton had a beginning inventory balance of $3,600 on April 1 and a beginning balance in accounts payable of $14,500. The company desires to maintain an ending inven all purchases in the month following purchase. 4.28 balance equa I to 10 percent of the next period's cost of goods sold. Thornton on account. The company pays 60 percent of accounts payable in the month of purchase and the remaining 40p Required a. Prepare an inventory purchases budget for April, May, and June. b. Determine the amount of ending inventory Thornton will report on the end-of-quarter pro forma balance sheet c. Prepare a schedule of cash payments for inventory for April, May, and June. d. Determine the balance in accounts payable Thornton will report on the end-of-quarter pro forma balance sheet. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D will report on the end-of-quarter pro forma balance sheet. Determine the balance in accounts payable Tho K Required C 5 of 711 Next >
