Prepare a master budget for a merchandising company, for the three-month ending period ending June 30. Include all required schedules and budgets including pro forma financial statements ?

Alignment Number Clipboard Font Sign In SIGN IN TO OFFICE It looks like your stored credentials are out of date. Please sign in as so we can verify your subscription 09 L M K B E C D F 1 H G 1 1 Data Sheet 2 S 3. Selling price per widget 17.00 AN sales are made on acround. Balance Sheet at March 31st 4 5 Widgets sold (actual and budgeted): Assets 23,600 June (budget 53,600 6 January (actual) Cash $ 92,000 7 February (actual 29,600 July (budget) 33,600 Accounts receivable 43,600 August (budget) 31,600 8 March (actual) S February sales 50,320 68,600 September (budget 28,600 March sales 592,960 9 April (budget 643,280 10 May (budget) 103,600 Inventory 159,152 11 Prepaid insurance 33,600 40% of widgets to be sold in the following month 12 Ending Inventory Property & equipment (net) 1,130,000 13 Total assets $2,058,032 15 14 Cost per widget 5 5.80 All purchases are made on account 15 Liabilities & Stockholders' Equity 16 Payments for merchandise (widgets) Cash collections of sales on account Accounts payable $ 155,440 17 Month of purchase 50% Month of sale 20% Dividends payable 28,500 18 Following month 50% Following month 70% Common stock 1,160,000 19 Second month 10% Retained earnines 714,092 20 Monthly operating expenses Total liabilities & stockholders' equit) $2,058,032 21 Variable: 22 Sales commissions 4% of sales 23 Fired: 24 Advertising $ 380,000 25 Rent $ $ 36,000 26 Salaries S 142,000 27 Utilities $ 16,000 28 Insurance S 4,800 The insurance premium is paid on an annual basis, in November of each year) 29 Depreciation $ 32.000 30 31 Planned equipment cash purchases: 32 May $ 25,000 33 June S 58,000 34 35 Dividends declared per quarter (payable in the first month of the following quarters $ 28,500 36 37 Minimum cash balance: S68,000 38 39. Borrowing increments: $1,000 All borrowing occurs at the beginning of the month as needed 40 Interest rate per month: 1% simple interest Any money borrowed, as well as the interest due is paid back on the last day of the quarter. When repaying ar 41 you can not go below your minimum cash balance 42 43 Budget Data Data Sheet Sales Budget EH Type here to search O N 9 X DELL Esc F1 F2 F3 F4 F5 F6 + F7 K a # % 2 3 1 Data Sheet 2 3 Selling price per widget S 17.00 Al sales are made on account Balance Sheet at March 31st 4 5 Widgets sold actual and budgeted): Assets 6. January (actual) 23,600 June (budget) 53,600 Cash S 92,000 7 February (actual) 29,500 July (budget 33,600 Accounts receivable 8 March (actual 43,600 August (budget) 31,600 February sales S 50,320 9 April (budget) 68 600 September (budget 28,600 March sales 592.960 643,280 10 May (budget) 103,500 Inventory 159,152 11 Prepaid insurance 33,600 12 Ending Inventory 40% of widgets to be sold in the following month Property & equipment inet 1,130,000 13 Total assets $2,058,032 14 Cost per widget S 5.80 All purchases are made an account 15 Liabilities & Stockholders' Equity 16. Payments for merchandise (widgets) Cash collections of sales on account Accounts payable $ 155,440 17 Month of purchase 50% Month of sale Dividends payable 28,500 18 Following month 50% Following month Common stock 1,160,000 19 Second month 10% Retained earnings 714092 20 Monthly operating expenses Total liabilities & stockholders' equity S2,058,082 21 Variable 22 Sales commissions 4% of sales 23 Fixed: 24 Advertising $ 380,000 25 Rent $ 35,000 26 Salaries $ 142,000 27 Utilities S 16,000 20 Insurance 5 4,800 The insurance premium is paid on an annual basis, in November of each year) 29 Depreciation S 32,000 30 31 Planned equipment cash purchases 32 May 5 25,000 33 June S $8,000 34 35 Dividends declared per quarter (payable in the first month of the following quarter): 5 28,500 20% 70% $58.000 37 Minimum cash balance: 38 39 Borrowing increments: 40 Interest rate per month: 41 42 $1,000 19 simple interest All borrowing occurs at the beginnine of the month as needed Any money borrowed, as well as the interest due is paid back on the last day of the quarter. Whe you can not go below your minimum cash balance Budget Data Data Sheet Sales Budget LG