The following information is available from various budgets for the current period: Amount Budget Cash budget Schedule of cash receipts from customers Inventory, purchases, and cost of goods sold budget Account Cash Prepaid Insurance Equipment Accumulated Depreciation - Equipment Accounts Receivable Merchandise Inventory Insurance Expense (expense incurred during the period) Equipment Depreciation Expense- Equipment (expense incurred during the period) Selling and administrative expense budget The following balances are available from the balance sheet at the end of the previous year: Selling and administrative expense budget Capital expenditures budget OA. $173,000 OB. $164,000 OC. $159,000 R. $162.000 $28,000 $5,000 28,000 35,000 7,000 What would be the amount of total assets on the budgeted balance sheet? 41,000 2,000 36,000 2,000 +
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
![The following information is available from various budgets for the current period:
Amount
Budget
Cash budget
Account
Cash
Accounts Receivable
Prepaid Insurance
Equipment
Accumulated Depreciation -
Equipment
Schedule of cash receipts from
customers
Inventory, purchases, and cost of
goods sold budget
Selling and administrative expense
budget
Capital expenditures budget
OA. $173,000
OB. $164,000
OC. $159,000
O D. $162,000
$28,000
Merchandise Inventory
Insurance Expense (expense
incurred during the period)
Equipment
Depreciation Expense
Equipment (expense incurred
during the period)
Selling and administrative expense
budget
2,000
The following balances are available from the balance sheet at the end of the previous year:
$5,000
28,000
7,000
What would be the amount of total assets on the budgeted balance sheet?
35,000
41,000
2,000
36,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0f52b4bc-a9d3-46b9-9175-019577e07803%2Fcdb6a0c9-f82b-46bc-9f17-126c89706967%2Fw7ho7b3b_processed.jpeg&w=3840&q=75)
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