Question 7. Please fill in the blanks the same format as the question Burton Office Supply's March 31, 2018, balance sheet follows:E (Click the icon to view the balance sheet.)The budget committee of Burton Office Supply has assembled the following data:A (Click the icon to view the data.)Read theiData TableAprilMay$200,000 | $204,000Total budgeted salesBurton Office SupplyRequirement 2. Prepare Burton's inventory, purchases, and cost of goods sold budget for April and May.Balance SheetBurton Supply CompanyMarch 31, 2018Inventory, Purchases, and Cost of Goods Sold BudgetAssetsApril and May, 2018Current Assets:AprilMayCash32,000Accounts Receivable12,000Plus:Merchandise Inventory40,000Total merchandise inventory requiredPrepaid Insurance1,600Less:Total Current Assets$85,600Property, Plant, and Equipment:Budgeted PurchasesEquipment and Fixtures40,000Choose from any list or enter any number in the input fields and then click Check Answer.Less: Accumulated Depreciation(12,000)28,000$113.6001 nortTotal Assets Burton Office Supply's March 31, 2018, balance sheet follows:The budget committee of Burton Office Supply has assembled the following data:E (Click the icon to view the balance sheet.)A (Click the icon to view the data.)Read theData TableAprilMay200,000| $204,000Total budgeted salesProperty, Plant, and Equipment:Equipment and Fixtures40.000Requirement 2. Prepare Burton's inventory, purchases, and cost of goods sold budget for April and May.Less: Accumulated Depreciation(12,000)28,000Burton Supply Company113,600Total AssetsInventory, Purchases, and Cost of Goods Sold BudgetApril and May, 2018LiabilitiesAprilMayCurrent Liabilities:Accounts Payable$16,000Salaries and Commissions Payable2,700Plus:Total merchandise inventory requiredTotal Liabilities$18,700Stockholders' EquityLess:Common Stock, no par25,000Budgeted PurchasesRetained Earnings69,900Choose from any list or enter any number in the input fields and then click Check Answer.Total Stockholders' Equity94,900$113,600Total Liabilities and Stockholders' Equity1 partClear All

It is assumed that Sales in April are expected to be $200,000. Burton forecasts that monthly sales…

Burton Office Supply's March 31, 2018, balance sheet follows: The budget committee of Burton Office Supply has assembled the following data: A (Click the icon to view the data.) E (Click the icon to view the balance sheet.) Read the 0 Data Table April May $ 200,000 S 204,000 Total budgeted sales Burton Office Supply Requirement 2. Prepare Burton's inventory, purchases, and cost of goods sold budget for April and May. Balance Sheet Burton Supply Company March 31, 2018 Inventory, Purchases, and Cost of Goods Sold Budget Assets April and May, 2018 Current Assets: April May Cash 32,000 Accounts Receivable 12,000 Plus: Merchandise Inventory 40,000 1,600 Total merchandise inventory required Prepaid Insurance Less: Total Current Assets 24 85,600 Property, Plant, and Equipment: Budgeted Purchases Equipment and Fixtures 40,000 Choose from any list or enter any number in the input fields and then click Check Answer. Less: Accumulated Depreciation (12,000) 28,000 113,600

Burton Office Supply's March 31, 2018, balance sheet follows: The budget committee of Burton Office Supply has assembled the following data: A (Click the icon to view the data.) E (Click the icon to view the balance sheet.) Read the 0 Data Table April May $ 200,000 S 204,000 Total budgeted sales Burton Office Supply Requirement 2. Prepare Burton's inventory, purchases, and cost of goods sold budget for April and May. Balance Sheet Burton Supply Company March 31, 2018 Inventory, Purchases, and Cost of Goods Sold Budget Assets April and May, 2018 Current Assets: April May Cash 32,000 Accounts Receivable 12,000 Plus: Merchandise Inventory 40,000 1,600 Total merchandise inventory required Prepaid Insurance Less: Total Current Assets 24 85,600 Property, Plant, and Equipment: Budgeted Purchases Equipment and Fixtures 40,000 Choose from any list or enter any number in the input fields and then click Check Answer. Less: Accumulated Depreciation (12,000) 28,000 113,600

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter4: Financial Planning And Forecasting

Section: Chapter Questions

Problem 4P

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