More Info Data Table Instrument Printing Supply of Baltimore has applied for ald April 2018 and budgeted balance sheet at April 30, 2018. (Click the icon to view the balance sheet.) C. Merchandise Inventory 22 Instrument Printing Supply Balance Sheet March 31, 2018 Assets f. Total Current Assets Property, Plant, and Equipment: Equipment and Fixtures a. April dividends of $5,500 were declared and paid. b. April capital expenditures of $16,400 budgeted for cash purchase of equipment April depreciation expense, $400. d. Cost of goods sold, 45% of sales. e. Desired ending inventory for April is S22,800. April selling and administrative expenses include salaries of $31,000, 25% 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, $82.000, 60% collected in April and 40% in May. i. April cash payments of March 31 liabilities incurred for March purchases of inventory, $8,400. j. April purchases of inventory. $9.900 for cash and 537,900 on account. Half the credit purchases will be paid in April and half in May. Current Assets: 974 Cash S 50,200 Less: Accumulated Depreciation (131 Accounts Receivable 13,600 Total Assets 11,900 Merchandise Inventory Total Current Assels Liabilities $ 75,700 Current Liabilities: Accounts Payable Salaries Payable Properly, Plant, and Equipment: Equipment and Fixtures Print Done 81,000 (12,700) 68,300 Less: Accumulated Depreciation Total Liabilities $ 144,000 Total Assets Stockholders' Equity Liabilitles Common Stock 40000 Current Liabilities: Retained Earnings Accounts Payable S 8,400 Stockholders' Equity Total Stockholders' Equity Total Liabilities and Stockholders' Equity More Info Data Table Instrument Printing Supply of Baltimore has applied for ald April 2018 and budgeted balance sheet at April 30, 2018. (Click the icon to view the balance sheet.) C. Merchandise Inventory 22 Instrument Printing Supply Balance Sheet March 31, 2018 Assets f. Total Current Assets Property, Plant, and Equipment: Equipment and Fixtures a. April dividends of $5,500 were declared and paid. b. April capital expenditures of $16,400 budgeted for cash purchase of equipment April depreciation expense, $400. d. Cost of goods sold, 45% of sales. e. Desired ending inventory for April is S22,800. April selling and administrative expenses include salaries of $31,000, 25% 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, $82.000, 60% collected in April and 40% in May. i. April cash payments of March 31 liabilities incurred for March purchases of inventory, $8,400. j. April purchases of inventory. $9.900 for cash and 537,900 on account. Half the credit purchases will be paid in April and half in May. Current Assets: 974 Cash S 50,200 Less: Accumulated Depreciation (131 Accounts Receivable 13,600 Total Assets 11,900 Merchandise Inventory Total Current Assels Liabilities $ 75,700 Current Liabilities: Accounts Payable Salaries Payable Properly, Plant, and Equipment: Equipment and Fixtures Print Done 81,000 (12,700) 68,300 Less: Accumulated Depreciation Total Liabilities $ 144,000 Total Assets Stockholders' Equity Liabilitles Common Stock 40000 Current Liabilities: Retained Earnings Accounts Payable S 8,400 Stockholders' Equity Total Stockholders' Equity Total Liabilities and Stockholders' Equity
