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Use the following information to prepare a budgeted balance sheet for Games.com at March 31. Show computations for the cash and owners' equity amounts. B
Use the following information to prepare a budgeted balance sheet for Games.com at March 31. Show computations for the cash and owners' equity amounts. B (Click the icon to view the March operating information.) Begin by determining the formula, then compute the ending cash balance. Ending = cash balance 1: - X Data table a. March 31 inventory balance, $13,235 b. March payments for inventory, $4,300 c. March payments of accounts payable and accrued liabilities, $8,600 d. March 31 accounts payable balance, $1,500 e. February 28 fumiture and fixtures balance, $34,800; accumulated depreciation balance, $29.840 f. February 28 owners' equily $29,470 9. March depreciation expense. $300 h. Cost of goods sold, 70% of sales i. Other March expenses, including income tax, total $7,000; paid in cash 1. February 28 cash balance, S11,700 k. March budgeted sales, $12,500 1 March 31 accounts receivable balance, one-fourth of March sales m. March cash receipts, $14,600
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