The purchasing department manager for Franklin Company prepared the following supplies purchases budget. Franklin's policy is to maintain an ending supplies balance equal to 10 percent of the following month's supplies expense. April's budgeted supplies expense is $77,000. Required a. Complete the supplies purchases budget by filling in the missing amounts. b. Determine the amount of supplies expense the company will report on its first quarter pro forma income statement c. Determine the amount of ending supplies the company will report on its pro forma balance sheet at the end of the first quarter Complete this question by entering your answers in the tabs below. Req A Reg B and C Complete the supplies purchases budget by filling in the missing amounts. March $ 65,000 Supplies Purchases Budget January February Budgeted supplies expense $ 55,000 $ 59,000 Plus: Desired ending supplies 5,900 Supplies needed 60,900 Less: Beginning supplies 5,500 Required purchases (on $ 55,400 account) T Req Band > The purchasing department manager for Franklin Company prepared the following supplies purchases budget. Franklin's policy is to maintain an ending supplies balance equal to 10 percent of the following month's supplies expense. April's budgeted supplies expense is $77,000. Required a. Complete the supplies purchases budget by filling in the missing amounts. b. Determine the amount of supplies expense the company will report on its first quarter pro forma income statement C. Determine the amount of ending supplies the company will report on its pro forma balance sheet at the end of the first quarter Complete this question by entering your answers in the tabs below. ReqA Req B and C Determine the amount of supplies expense the company will report on its first quarter pro forma income statement. Determine the amount of ending supplies the company will report on its pro forma balance sheet at the end of the first quarter. b. Supplies expense c. Ending supplies Baird Books expects to purchase the following supplies: Required purchases (on account) April $111,000 May $131,000 June $143,000 Baird Books's accountant prepared the following schedule of cash payments for supplies purchases. Baird Books's suppliers require that 90 percent of purchases on account be paid in the month of purchase: the remaining 10 percent are paid in the month following the month of purchase. Required a. Complete the schedule of cash payments for supplies purchases by filling in the missing amounts. b. Determine the amount of accounts payable the company will report on its pro forma balance sheet at the end of the second quarter Complete this question by entering your answers in the tabs below. Required A Riquired B Determine the amount of accounts payable the company will report on its pro forma balance sheet at the end of the second quarter. Accounts payable
