Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: Sales are budgeted at $310,000 for November, $330,000 for December, and $320,000 for January Collections are expected to be 80% in the month of sale and 20% in the month following the sale The cost of goods sold is 77% of sales. The company desires an ending merchandise inventory equal to 85% of the cost of goods sold in the following month. Payment for merchandise is made in the month following the purchase. Other monthly expenses to be paid in cash are $20,500 Monthly depreciation is $20,300 Ignore taxes Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment (net of $589,000 accumulated depreciation) Total assets $ 21,300 82,300 202,895 999,000 $1,305,495 Liabilities and Stockholders' Equity Accounts payable Conmon stock Retained earnings Total liabilities and stockholders' equity $ 195,300 540,000 570, 195 $1,305,495 Required: a Prepare a Schedule of Expected Cash Collections for November and December b. Prepare a Merchandise Purchases Budget for November and December c Prepare Cash Budgets for November and December d. Prepare Budgeted Income Statements for November and December, e. Prepare a Budgeted Balance Sheet for the end of December Complete this question by entering your answers in the tabs below. Required A Required B Required Required D Required Prepare a Schedule of Expected Cash Collections for November and December Saved . wowy w pure Monthly depreciation is $20,300. Ignore taxes Balance Sheet October 31 Assets Cash Accounts receivable Merchandise Inventory Property, plant and equipment (net of $589,008 accumulated depreciation) Total assets 21,300 82,300 202,895 999,000 $1,305,495 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 195,300 540,000 570.195 $1,305,495 Required: a. Prepare a Schedule of Expected Cash Collections for November and December b. Prepare a Merchandise Purchases Budget for November and December c. Prepare Cash Budgets for November and December d. Prepare Budgeted Income Statements for November and December e. Prepare a Budgeted Balance Sheet for the end of December Complete this question by entering your answers in the tabs below. Required A Required B Required Required D Required E Prepare a Schedule of Expected Cash Collections for November and December November December Sales Schedule of Expected Cash Collections Accounts receivable November sales December sales Total cash collections Red Required B > Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment (net of $589,808 accumulated depreciation) Total assets 21,300 82,309 202,895 999,000 $1,305,495 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 195,300 540,000 570,195 $1,305,495 Required: a. Prepare a Schedule of Expected Cash Collections for November and December. b. Prepare a Merchandise Purchases Budget for November and December c. Prepare Cash Budgets for November and December d. Prepare Budgeted Income Statements for November and December e. Prepare a Budgeted Balance Sheet for the end of December Complete this question by entering your answers in the tabs below. Required A Required B Required Required D Required E Prepare a Merchandise Purchases Budget for November and December. November December Budgeted cost of goods sold Total needs Required purchases VULET 2 Assets Cash Accounts receivable Merchandise Inventory Property, plant and equipment (net of $589,000 accumulated depreciation) Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total Habilities and stockholders' equity 5 21,300 82,300 202,895 999,000 $1,305,495 $ 195,300 540,000 570, 195 $1,305,495 Required: a. Prepare a Schedule of Expected Cash Collections for November and December b. Prepare a Merchandise Purchases Budget for November and December c. Prepare Cash Budgets for November and December d. Prepare Budgeted Income Statements for November and December e. Prepare a Budgeted Balance Sheet for the end of December Complete this question by entering your answers in the tabs below. Required A Required B Required Required Required E Prepare Cash Budgets for November and December November December Cash disbursements for merchandise Other monthly cash expenses Total cash disbursements Beginning cash balance Add cash receipts Total cash available Less cash disbursements Excess (deficiency) of cash available over disbursements Financing Ending cash balance anywu . Monthly depreciation is $20,300. Ignore taxes . Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment (net of $589,000 accumulated depreciation) Total assets $ 21,300 82,300 202,895 999.900 $1,305,495 Liabilities and Stockholders' Equity Accounts payable Retained earnings Total liabilities and stockholders' equity Common stock $ 195,300 540,000 570,195 $1,305,495 Required: a. Prepare a Schedule of Expected Cash Collections for November and December b. Prepare a Merchandise Purchases Budget for November and December. c. Prepare Cash Budgets for November and December d. Prepare Budgeted Income Statements for November and December e. Prepare a Budgeted Balance Sheet for the end of December Complete this question by entering your answers in the tabs below. Required A Required B Required Required D Required E Prepare Budgeted Income Statements for November and December. November December Sales Cost of goods sold Other monthly expenses Depreciation Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 195,300 540,000 570,195 $1,305,495 12 Required: a. Prepare a Schedule of Expected Cash Collections for November and December b. Prepare a Merchandise Purchases Budget for November and December c. Prepare Cash Budgets for November and December d. Prepare Budgeted Income Statements for November and December e. Prepare a Budgeted Balance Sheet for the end of December Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E Prepare a Budgeted Balance Sheet for the end of December Balance Sheet December 31 Assets Cash Accounts receivable Inventory Property, plant and equipment (net of accumulated depreciation) Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity