Prepare the budgeted balance sheet for Elite Printing at April 30. Elite Printing Budgeted Balance Sheet April 30 Assets Current assets: Cash Accounts receivable Inventory Total current assets Plant assets: Equipment Accumulated depreciation III Total assets Liabilities Current liabilities: Accounts payable Accrued expenses payable Total liabilities Owners' Equity Owners' equity Total liabilities and owners' equity Requirement 2. Prepare the combined cash budget for April. Elite Printing Combined Cash Budget Month Ended April 30 Beginning cash balance, April 1 Cash collections from customers Total cash available Less cash payments: Purchases Operating expenses Acquisition of equipment Ending cash balance, April 30 Requirement 3. Suppose Elite Printing has become aware of more efficient and more expensive) equipment than it budgeted for purchase in April. What is the total amount of cash available for equipment purchases in April, before financing, if the minimum desired ending cash balance is $17,000? (For this requirement, disregard the $42,600 initially budgeted for equipment purchases.) The amount of cash available for equipment purchases in April, before financing, if the minimum desired ending cash balance is $17,000 (and disregarding the $42,600 initially budgeted for equipment purchases) is $ Requirement 4. Before granting a loan to Elite Printing, Scotiabank asks for a sensitivity analysis assuming that April sales are only $57,333 rather than the $86,000 originally budgeted. (While the cost of goods sold will change, assume that purchases, depreciation, and the other operating expenses will remain the same as in the earlier requirements.) a. Prepare a revised budgeted balance sheet for Elite Printing, showing separate computations for cash, inventory, and owners' equity balances. Begin by calculating the cash balance. (Round your answers to the nearest whole dollar.) Cash Beginning balance Cash inflows: Cash sales Collections Cash outflows: Payment of March liabilities Cash purchases Payments for April (credit) purchases Purchase of equipment Operating expenses paid Ending balance Calculate the inventory balance. (Round your answers to the nearest whole dollar.) Inventory Beginning balance Add: Purchases Less: Cost of goods sold Ending balance Calculate the owners' equity balance. (Round your answers to the nearest whole dollar.) Owners' Equity Beginning balance Add: Revenues Less: Expenses Ending balance Prepare the budgeted balance sheet for Elite Printing at April 30. Elite Printing Budgeted Balance Sheet April 30 Assets Current assets: Cash Accounts receivable Inventory Total current assets Plant assets: Equipment Accumulated depreciation Total assets Liabilities Current liabilities: Accounts payable Accrued expenses payable Total liabilities Owners' Equity Owners' equity Total liabilities and owners' equity b. Suppose Elite Printing has a minimum desired cash balance of $24,000. Will the company need to borrow cash in April? The company (1) have to borrow cash in April if sales revenue is $57,333. The company's cash balance is $ (2) than the minimum balance of $24,000. c. In this sensitivity analysis, sales declined by 33 1/3% ($28,667 / $86,000). Is the decline in expenses and income more or less than 33 1/3%? Explain. b. Suppose Elite Printing has a minimum desired cash balance of $24,000. Will the company need to borrow cash in April? The company (1) have to borrow cash in April if sales revenue is $57,333. The company's cash balance is $ (2) than the minimum balance of $24,000. c. In this sensitivity analysis, sales declined by 33 1/3% ($28,667 / $86,000). Is the decline in expenses and income more or less than 33 1/3%? Explain. 33 1/3%. In the sensitivity analysis, the decline in expenses is (3). 33 1/3%, so the decline in income is (4). / (Enter the percentage rounded to one decimal place.) In the original analysis, expenses are $ When sales decline to $57,333 in Requirement 4, expenses decline to $ Thus, expenses declined by %. rapidly than sales because (6) expenses (7) the sales decline. At Elite Printing, (8) Expenses decline (5) sales are $86,000 or $57,333. are (9) costs. These costs remain the same whether (Enter the percentage rounded to one decimal place.) rapidly than sales. In the original analysis in Requirement 1, income was $ However, when sales decline to $57,333 in Because expenses do not decline as much as sales declines, income (loss) declines (10) Requirement 4, income declines to $ This is a % decline in income. 1: Data Table a. b. d. e. f. March 31 equipment balance, $52,600; accumulated depreciation, $41,900 April capital expenditures of $42,600 budgeted for cash purchase of equipment April depreciation expense, $500 Cost of goods sold, 45% of sales Other April operating expenses, including income tax, total $13,400, 35% of which will be paid in cash and the remainder accrued at April 30 March 31 owners' equity, $93,000 March 31 cash balance, $40,800 April budgeted sales, $86,000, 70% of which is for cash. Of the remaining 30%, half will be collected in April and half in May April cash collections on March sales, $29,700 April cash payments of March 31 liabilities incurred for March purchases of inventory, $17,500 March 31 inventory balance, $29,300 April purchases of inventory, $10,800 for cash and $36,400 on credit. Half of the credit purchases will be paid in April and half in May g. h. i. j. k. I. 2: Requirements 1. Prepare the budgeted balance sheet for Elite Printing at April 30. Show separate computations for cash, inventory, and owners' equity balances. 2. Prepare the combined cash budget for April. 3 Suppose Elite Printing has become aware of more efficient (and more expensive) equipment than it budgeted for purchase in April. What is the total amount of cash available for equipment purchases in April, before financing, if the minimum desired ending cash balance is $17,000? (For this requirement, disregard the $42,600 initially budgeted for equipment purchases.) 4. Before granting a loan to Elite Printing, Scotiabank asks for a sensitivity analysis assuming that April sales are only $57,333 rather than the $86,000 originally budgeted. (While the cost of goods sold will change, assume that purchases, depreciation, and the other operating expenses will remain the same as in the earlier requirements.) Prepare a revised budgeted balance sheet for Elite Printing, showing separate computations for cash, inventory, and owners' equity balances. b. Suppose Elite Printing has a minimum desired cash balance of $24,000. Will the company need to borrow cash in April? In this sensitivity analysis, sales declined by 33 1/3% ($28,667 / $86,000). Is the decline in expenses and income more or less than 33 1/3%? Explain. a. c. Prepare the budgeted balance sheet for Elite Printing at April 30. Elite Printing Budgeted Balance Sheet April 30 Assets Current assets: Cash Accounts receivable Inventory Total current assets Plant assets: Equipment Accumulated depreciation III Total assets Liabilities Current liabilities: Accounts payable Accrued expenses payable Total liabilities Owners' Equity Owners' equity Total liabilities and owners' equity Requirement 2. Prepare the combined cash budget for April. Elite Printing Combined Cash Budget Month Ended April 30 Beginning cash balance, April 1 Cash collections from customers Total cash available Less cash payments: Purchases Operating expenses Acquisition of equipment Ending cash balance, April 30 Requirement 3. Suppose Elite Printing has become aware of more efficient and more expensive) equipment than it budgeted for purchase in April. What is the total amount of cash available for equipment purchases in April, before financing, if the minimum desired ending cash balance is $17,000? (For this requirement, disregard the $42,600 initially budgeted for equipment purchases.) The amount of cash available for equipment purchases in April, before financing, if the minimum desired ending cash balance is $17,000 (and disregarding the $42,600 initially budgeted for equipment purchases) is $ Requirement 4. Before granting a loan to Elite Printing, Scotiabank asks for a sensitivity analysis assuming that April sales are only $57,333 rather than the $86,000 originally budgeted. (While the cost of goods sold will change, assume that purchases, depreciation, and the other operating expenses will remain the same as in the earlier requirements.) a. Prepare a revised budgeted balance sheet for Elite Printing, showing separate computations for cash, inventory, and owners' equity balances. Begin by calculating the cash balance. (Round your answers to the nearest whole dollar.) Cash Beginning balance Cash inflows: Cash sales Collections Cash outflows: Payment of March liabilities Cash purchases Payments for April (credit) purchases Purchase of equipment Operating expenses paid Ending balance Calculate the inventory balance. (Round your answers to the nearest whole dollar.) Inventory Beginning balance Add: Purchases Less: Cost of goods sold Ending balance Calculate the owners' equity balance. (Round your answers to the nearest whole dollar.) Owners' Equity Beginning balance Add: Revenues Less: Expenses Ending balance Prepare the budgeted balance sheet for Elite Printing at April 30. Elite Printing Budgeted Balance Sheet April 30 Assets Current assets: Cash Accounts receivable Inventory Total current assets Plant assets: Equipment Accumulated depreciation Total assets Liabilities Current liabilities: Accounts payable Accrued expenses payable Total liabilities Owners' Equity Owners' equity Total liabilities and owners' equity b. Suppose Elite Printing has a minimum desired cash balance of $24,000. Will the company need to borrow cash in April? The company (1) have to borrow cash in April if sales revenue is $57,333. The company's cash balance is $ (2) than the minimum balance of $24,000. c. In this sensitivity analysis, sales declined by 33 1/3% ($28,667 / $86,000). Is the decline in expenses and income more or less than 33 1/3%? Explain. b. Suppose Elite Printing has a minimum desired cash balance of $24,000. Will the company need to borrow cash in April? The company (1) have to borrow cash in April if sales revenue is $57,333. The company's cash balance is $ (2) than the minimum balance of $24,000. c. In this sensitivity analysis, sales declined by 33 1/3% ($28,667 / $86,000). Is the decline in expenses and income more or less than 33 1/3%? Explain. 33 1/3%. In the sensitivity analysis, the decline in expenses is (3). 33 1/3%, so the decline in income is (4). / (Enter the percentage rounded to one decimal place.) In the original analysis, expenses are $ When sales decline to $57,333 in Requirement 4, expenses decline to $ Thus, expenses declined by %. rapidly than sales because (6) expenses (7) the sales decline. At Elite Printing, (8) Expenses decline (5) sales are $86,000 or $57,333. are (9) costs. These costs remain the same whether (Enter the percentage rounded to one decimal place.) rapidly than sales. In the original analysis in Requirement 1, income was $ However, when sales decline to $57,333 in Because expenses do not decline as much as sales declines, income (loss) declines (10) Requirement 4, income declines to $ This is a % decline in income. 1: Data Table a. b. d. e. f. March 31 equipment balance, $52,600; accumulated depreciation, $41,900 April capital expenditures of $42,600 budgeted for cash purchase of equipment April depreciation expense, $500 Cost of goods sold, 45% of sales Other April operating expenses, including income tax, total $13,400, 35% of which will be paid in cash and the remainder accrued at April 30 March 31 owners' equity, $93,000 March 31 cash balance, $40,800 April budgeted sales, $86,000, 70% of which is for cash. Of the remaining 30%, half will be collected in April and half in May April cash collections on March sales, $29,700 April cash payments of March 31 liabilities incurred for March purchases of inventory, $17,500 March 31 inventory balance, $29,300 April purchases of inventory, $10,800 for cash and $36,400 on credit. Half of the credit purchases will be paid in April and half in May g. h. i. j. k. I. 2: Requirements 1. Prepare the budgeted balance sheet for Elite Printing at April 30. Show separate computations for cash, inventory, and owners' equity balances. 2. Prepare the combined cash budget for April. 3 Suppose Elite Printing has become aware of more efficient (and more expensive) equipment than it budgeted for purchase in April. What is the total amount of cash available for equipment purchases in April, before financing, if the minimum desired ending cash balance is $17,000? (For this requirement, disregard the $42,600 initially budgeted for equipment purchases.) 4. Before granting a loan to Elite Printing, Scotiabank asks for a sensitivity analysis assuming that April sales are only $57,333 rather than the $86,000 originally budgeted. (While the cost of goods sold will change, assume that purchases, depreciation, and the other operating expenses will remain the same as in the earlier requirements.) Prepare a revised budgeted balance sheet for Elite Printing, showing separate computations for cash, inventory, and owners' equity balances. b. Suppose Elite Printing has a minimum desired cash balance of $24,000. Will the company need to borrow cash in April? In this sensitivity analysis, sales declined by 33 1/3% ($28,667 / $86,000). Is the decline in expenses and income more or less than 33 1/3%? Explain. a. c