Requirement 1. Prepare the sales budget for April.

Note Printing Supply
Sales Budget
For the Month Ended April 30, 2024
	Total budgeted sales

Requirement 2. Prepare the inventory, purchases, and cost of goods sold budget for April.

Note Printing Supply
Inventory, Purchases, and Cost of Goods Sold Budget
For the Month Ended April 30, 2024
Plus:
Total merchandise inventory required
Less:
Budgeted Purchases

Requirement 3. Prepare the selling and administrative expense budget for April.

Note Printing Supply
Selling and Administrative Expense Budget
For the Month Ended April 30, 2024
	Variable expenses:
	Fixed expenses:
	Total fixed expenses
	Total selling and administrative expenses

Requirement 4. Prepare the budgeted cash receipts from customers for April.

Note Printing Supply

Budgeted Cash Receipts from Customers

For the Month Ended April 30, 2024

Current month sales, 55%
Prior month sales, 45%
Total cash receipts

Requirement 5. Prepare the budgeted cash payments for selling and administrative expenses for April.

Note Printing Supply
Budgeted Cash Payments for Selling and Administrative Expenses
For the Month Ended April 30, 2024
	Variable expenses:
	Miscellaneous expenses
	Fixed expenses:
	30% of current month's salaries expense
	Total payments for selling and administrative expenses

Requirement 6. Prepare the cash budget for April.

Assume the company does not use short-term financing to maintain a minimum cash balance.

Review the budgeted cash receipts from customers you prepared above.

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Review the budgeted cash payments for selling and administrative expenses you prepared above.

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Note Printing Supply

Cash Budget

For the Month Ended April 30, 2024

Cash available
Cash payments:
Total cash payments
Ending cash balance

Requirement 7. Prepare the budgeted income statement for

April.

Review the sales budget you prepared above.

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Review the selling and administrative expense budget you prepared above.

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Review the inventory, purchases, and cost of goods sold budget you prepared above.

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Note Printing Supply
Budgeted Income Statement
For the Month Ended April 30, 2024
Gross Profit
Selling and Administrative Expenses:
Total Selling and Administrative Expenses
Net income (loss)

Requirement 8. Prepare the budgeted balance sheet at

April

30,

2024.

Review the cash budget you prepared above.

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Note Printing Supply
Budgeted Balance Sheet
April 30, 2024
Assets
Current Assets:
Total Current Assets
Property, Plant, and Equipment:
Total Assets

Liabilities
Current Liabilities:
Total Liabilities
Stockholders' Equity
Total Stockholders' Equity
Total Liabilities and Stockholders' Equity

Note Printing Supply
Balance Sheet
March 31, 2024
Assets
Current Assets:
Cash	$50,500
Accounts Receivable	14,900
Merchandise Inventory	12,600
Total Current Assets		$78,000
Property, Plant, and Equipment:
Equipment and Fixtures	80,700
Less: Accumulated Depreciation	(12,600)	68,100
Total Assets		$146,100

Liabilities
Current Liabilities:
Accounts Payable			$8,400
Stockholders' Equity
Common Stock, no par		$24,000
Retained Earnings		113,700
Total Stockholders' Equity			137,700
Total Liabilities and Stockholders' Equity			$146,100