Thumbtack Office Supplys March 31, 2018, balance sheet follows: eEB (Click the icon to view the balance sheet.) The budget committee of Thumbtack Office Supply has assembled the following data: i (Click the icon to view the data.) Read the Data Table Requirement 1. Prepare Thumbtack's sales budget for April and May 2018. Round all amounts to the nearest dollar. Thumbtack Office Supply Sales Budget April and May, 2018 Thumbtack Office Supply Balance Sheet March 31, 2018 Assets April May $180,000 183,600 Current Assets Total budgeted sales Cash Accounts Receivable Merchandise Inventory Prepaid Insurance Total Current Assets 18,000 15,000 29,500 2,200 Requirement 2. Prepare T s inventory, purchases, and cost of goods sold budget for April and May Thumbtack Supply Company Inventory, Purchases, and Cost of Goods Sold Budget April and May, 2018 $64,700 Choose from any list or enter any number in the input fields and then click Check Answer Property, Plant, and Equipment: Equipment and Fixtures 34,000 part remaining Clear All 4,000 (30,000) Less: Accumulated Depreciation Thumbtack Office Supply's March 31, 2018, balance sheet follows: (Click the icon to view the balance sheet.) The budget committee of Thumbtack Office Supply has assembled the following data: (Click the icon to view the data.) Read the requirements. Requirement 2. Prepare Thumbtack's inventory, purchases, and cost of goods sold budget for April and May Thumbtack Supply Company Inventory, Purchases, and Cost of Goods Sold Budget April and May, 2018 Sales in April are expected to be $180,000. Thumbtack forecasts that monthly sales will increase 2% over April sales in May, June's sales will increase by 4% over April sales, July sales will increase 20% over April sales. Thumbtack maintains inventory of $7,000 plus 25% of the cost of goods sold budgeted for the following month. Cost of goods sold equal 50% of sales revenue Monthly salaries amount to $5,000. Sales commissions equal 5% of sales for that month. Other monthly expenses are as follows: Rent: $2,400 a. April May b. Cost of goods sold Plus: Desired ending merchandise inventory Total merchandise inventory required Less: Beginning merchandise inventory Budgeted Purchases 90000 29950 119950 91800 30400 122200 C. d. Depreciation: $300 Insurance: $200 . Income tax: $2,400 Print Done Choose from any list or enter any number in the input fields and then click Check Answer. part remaining Clear All Check