mplete) P22-42A (similar to) Fountain Office Supply's March 31, 2018, balance sheet follows: :: (Click the icon to view the balance sheet) The budget committee of F (Click the icon to view Read the requirements Requirement 1. Prepare Fountain's sales budget for April and May 2018. Round all amounts to the nearest dollar. Fountain Office Supply Sales Budget April and May, 2018 April $ 100,000 $ 102.000 Total budgeted sales May Requirement 2. Prepare Fountain's inventory. purchases, and cost of goods sold budget for April and May. Fountain Supply Company Inventory, Purchases, and cost of Goods Sold Budget April and May, 2018 April May Cost of goods sold Plus: Desired ending merchandise inventory Total merchandise inventory required Less: Beginning merchandise inventory Budgeted Purchases Choose from any list or enter any number in the input fields and then click Check Answer Clear All 1 Pemaining P22-42A (similar to) Fountain Office Supply's March 31, 2018, balance sheet follows: (Click the icon to view the balance sheet) The budget committee of Fountain Office Supply has assembled the following data: Data Table Requirement 1. Prepare Fountain's sales budget for April and May 2018. Round all amounts to the nearest dollar. Fountain Office Supply Sales Budget April and May, 2018 April May $ 100.000 $ 102.000 Total budgeted sales Requirement 2. Prepare Fountain's inventory, purchases, and cost of goods sold budget for April and May. Fountain Supply Company Inventory, Purchases, and cost of Goods Sold Budget April and May, 2018 April May 77.500 Fountain Office Supply Balance Sheet March 31, 2018 Assets Current Assets Cash $ 23,000 Accounts Receivable 32,000 Merchandise Inventory 20.500 Prepaid insurance 2.000 Total Current Assets Property Plant, and Equipment Equipment and Fixtures 60.000 Less: Accumulated Depreciation (20.000 Total Assets Liabilities Current Liabilities Accounts Payable $ 12 000 3.900 Salaries and Commissions Payable Total Liabilities $ Stockholders' Equity 34.000 111,500 Cost of goods sold Plus Desired ending merchandise inventory Total merchandise inventory required Less Beginning merchandise inventory Budgeted Purchases 15.900 Choose from any list or enter any number in the input fields and then click Check Answer ack An Print Done 1 part remaining % $ 4 & 7 8 3 5 2 Question Help The budget committee of Fountain Office Supply has assembled the following data: (Click the icon to view the data.) Read the requirements May 2018. Round all amounts to the nearest dollar. More Info a. 2,000 b. cost of goods sold budget for April and May Sales in April are expected to be $100,000. Fountain 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 Fountain maintains inventory of $8,000 plus 25% of the cost of goods sold budgeted for the following month. Cost of goods sold equal 50% of sales revenue. Monthly salaries amount to $9,000. Sales commissions equal 5% of sales for that month. Other monthly expenses are as follows: Rent: $2,600 Depreciation: $500 Insurance: $200 Income tax $1,600 pany Goods Sold Budget 18 April May Print Done fields and then click Check Answer. Check Answer Clear All