PLEASE HELP

Score: 0 of 20 pts 11 of 14 (14 completa) HW Score: 60.05%, 58.85 of 98 pts X P22-42A (similar to) Roti Hain More Info Oirala Office Supply's March 31, 2018, Lalance sheet follows: (Click the icon ta view the balance sheet) The budgel commille of Omaha Office i (Click the icon to view the data.) i Data Table Requirement 1. Prepare Omaha's sales budget for April and May 2018. Round all amounts to the nearest dolg b. Sales in April are expected to be S120,000. Omaha forecasts that monthly sales will increase 2% over April sales in May. June's sales will increase by 4% over Apri sales. July sales will Increase 20% over April sales Omahe maintains Inventory of $8,000 plus 25% of the cost of goods sold budgeted for the folowing 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: Rant: $3,4010 Depreciation: 5400 - Insurance: 8200 - Income tax: S2, 100 d. Omaha Office Supply Sales Budget April and May, 2018 April May $ 120,000 S 122,400 Tolal budgeted sales Requirement 2. Prepare Omsha's Inventory, purchases, and cost of goods sold budget for April and Mey 30.000 Print Done 15,000 23.000 1,500 5 89,500 May B1.200 Omaha Supply Company Inventory, Purchases, and Cost of Goods Sold Budget April and May, 2018 April Cast of goods sold $ 60,000 $ Plus: Dasira anding merchandise inventory 23,300 Total merchandise inventory required a3,300 Less: Beginning merchandise inventary 25,000 Budgeted Purchases 60,300 $ Omaha Office Supply Balance Sheet March 31, 2018 Assets Current Assats: Cash $ Accounts Receivable Merchandise Inventory Prepaid Insurance Total Current Assets Property Plant, and Equipment: Equipment and Fixtures Less: Acumulated Depreciation Total Assets Liabilities Current Liabilities: Accounts Payable S Salaries and Commissions Payable Total Liabilities Stockholders' Equity Common Stock no par Relained Eaming Total Slackhaldens' Equity 30,000 (24,00) 23,600 6.000 $ 75,500 84,800 23,300 61,500 13,000 8,625 $ 21,925 Requirement 3. Prepare Omaha's selling and administrative axpanse budget for Apri ard May, Omaha Office Supply Selling and Administrative Expense Budget April and May, 2018 April May 21,000 32,575 Variable expenses: 53.574 $ 75,500 This question is complete. Move your cursor over or tap on the red arrows to see incorrect answers. Total abilities and Stockholders' Equity 2 X P22-42A (similar to) IR Audio Hein Moncinin Omalia Office Supply's March 31, 2018, balance sheet foloas. 2 (Click the icon to view the balance sheet.) The budget commillee of Omaha Offic (Click the icon ta view the data.) Data Table &. b. Sales in April are expected to be $120,000. Omaha forecasts that monthly selee will increase 2% over April sales in May June's sales will increase by 4% over April Sales Juty sales will increase 20% wer April sales. Omaha maintains inventory af S4.000 plus 25% of the cost of goods sold budgeted for the following month. Cost of goous sold equal 50% of sales revenue Monthly salaries around to $9,000. Sales commissions ecual 5% of sales for that month. Other monthly expenses are as folows: - Rent $3,400 Depreciation: 8400 Insurance: $200 Income tax: 32,100 May d. Omaha Supply Company Inventory, Purchase, and Coot of Goode Sold Budget April and May, 2018 April Coat of goods sold 1s 60,000 $ Plus: Desired ending merchandise inventory 23 300 Total merchandise inventory required 43300 Les Heginning merchandise inventory 23.000 60.300 3 Budgeted Purchases 61,200 23.600 44.400 23.300 61.500 30.000 15.000 29.000 Print Omaha Office Supply Balance Sheet March 31, 2018 Assets Current Assets: Cash 3 Accounts Receivable Merchandise inventory Prepaid Insurance Total Current Assels Property, Plant, and Equipment: Foulomant and Fixtures Less Accumulated Depreciation Tolal Assets Done 1.500 3 69,500 Requirement 3. Prepare Omaha's saling and administrative expanse budget for April and May Omaha Office Supply Selling and Administrative Expense Budget April and May, 2018 April May 30.000 (24,000) 8,000 75,500 Variable expenses: Commissione Expense $ 6.000 $ 6,120 Liabilities Current Liabilities: 9,000 S Fixed expenses: Salaries Expense Rent Expense Depreciation Experise Accounts Payable Salaries and Commissions Payable 13,000 3.925 3.400 400 9,000 3.400 400 200 Total Liabilities 3 21,925 Insurance Expense 200 Stockholders' Equity 13.000 Total fixed expenses 13.000 Common Stock, no per 21.000 32,575 $ 19,000 19,120 Total selling and administrative expenses Retained Earringe Tocal Stockholders' Equity 53,575 This question is complete. Move your cursor over or tap on the red arrows to see incorrect answers. Total Liabities and Stockholders' Equity $ 75,500 ? X P22-42A (similar to) Question Help Printer Office Supply's March 31, 2018, balance sheet follows: (Click the icon to view the balance sheet.) The budget committee of Prinler Office Suches assembleibe following dala i (Click the icon to view the data) More Info Data Table Requirement 1. Prepare Printer's sales budget for April and May 2019. Round all amounts to the nearest A. Printer Office Supply Salee Budget April and May, 2018 April Printer Office Supply Balance Sheet March 31, 2018 Sales in April are expected to be $40,000. Printer forecasts that monthly sales will increase 2% over April sales in May. Jungs sales wil increase by 4% wer April sales. July sales will increase 20% aver Aprl sales. b. Printer inaintains inventory of S14,000 plus 25% of the cost of goods sold budgeted for the folowing month. Cost of goods sold equal 50% of sales revenue. c. Monthly salaries amount to $8,000. Sales commissions equal 5% of sales for that month. d. Omer monthly expenses are as follows: + Rent: $2,200 Depreciation: $600 Insurance: S400 - Income Lax: 52,300 May Assets Talal budgeted sales $ 20,000 32.000 19,000 2,400 Print Done Currendussels Cash Accounts Recalvable Merchandise Inventory Prepaid Insurance Total Current Assets Property Plant, and Equipment Equipment and Fixtures $ PLZ Solve THIS 23.400 52,000 (23,000) 29.000 $ 112,400 12,000 4.XD Less. Accumulated Depreciation Talal Assets Liabilities Current Liabilities: Accounts Payable 3 Salaries and Commissions Payable Total Linblities Stockholders' Equity Common Slock, no ar Relained Earnings Total Stackholders' Cuily $ 16,000 14,000 12,400 Enter any number in the edit fields and then click Check Answer. 98,400 ? $ 112,400 Total Liabilities and Stockholders' Equity parts maininn Check