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please help Prepare a budgeted balance sheet at March 31 using the following information from Zimmer Company. a. The cash budget for March shows an
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Prepare a budgeted balance sheet at March 31 using the following information from Zimmer Company. a. The cash budget for March shows an ending loan balance of $13,500 and an ending cash balance of $55,550. b. The sales budget for March shows sales of \$127,000. Accounts recelvable at the end of March are budgeted to be 65% of March sales. c. The merchandise purchases budget shows that $89,700 in merchandise wil be purchased on credit in March. Purchases on credit are paid 100% in the month following the purchase. d. Ending merchandise inventory for March is budgeted to be 670 units at a cost of $40 each. e. Income taxes paryabie of $26,700 are budgeted at the end of March 1. Accounting records at the end of March show budgeted equipment of $83,300 with accumulated depreciation of $32,400. g. Common stock of $28,500 and retained earnings of $57,400 are budgeted at the end of March Step by Step Solution
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