Question
The data sheet contains all the information needed to prepare a master budget for a merchandising company. You will start by inputting your unique data
The data sheet contains all the information needed to prepare a master budget for a merchandising company. You will start by inputting your unique data based on the assigned row over the data provided here that is used for class purposes only. Prepare a master budget for the three-month period ending June 30 for Widgets R Us. Include all required detailed schedules and budgets including pro forma financial statements. Actual and Budeted Sales - January - September Merchandise Payments Cash Collections Monthly Expenses New Equipment Total Assets Liabilities and Stockholders' Equity row Selling Price January February March April May June July August September Ending Inventory % Cost per Widget Month of Purchase Month After Purchase Month of Sale Month after Sale 2nd Month after Sale Sales Commission Advertising Rent Salaries Utilities Insurance Depreciation May June Quarterly Dividend Cash Feb. A/R March A/R Inventory Prepaid Insurance PPE (net) A/P Dividends Payable Common Stock Retained Earnings Minimum Cash Balance Borrowing Increment Simple Interest per Month Sonal F. $11.00 20,200 26,200 40,200 65,200 100,200 50,200 30,200 28,200 25,200 40% $4.10 50% 50% 20% 70% 10% 4% 210,000 19,000 108,000 7,500 3,100 15,000 16,500 41,000 15,750 75,000 28,820 353,760 106,928 21,700 960,000 102,910 15,750 820,000 607,548 51,000 1,000 1%
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