A Saudi printing supply has applied for a loan. Riyad bank has requested abudget balance sheet at April 30.2020, and a budgeted statement of cashflows for April. The march 31,2020 budgeted balance sheet follows:Saudi printing supplyBudgeted Balance SheetMarch 31,2020AssetsCurrent assets:10 1000Cash25600Accounts receivable23800inventoryTotal Current Assets150400Long term assetsEquipmentLess: accumulated depreciation16220025000Total term assets137200Total Assets287600LiabilitiesCurrent liabilities:Account payable17200Total Liabilities17200Stockholders' EquityCommon stock84000Total stockholders' equity186400Total Liabilities and Stockholders' Equity287600Additional information:1. April dividends of SAR5000 were declared and paid2. April capital expenditures of SAR 32800 budgeted for cash purchase ofequipment3. Cost of good sold 40% of sales4. April depreciation expense SAR 14005. April operating expense, including salaries, total SAR76000.20% of whichwill be paid in cash and the remainder will be paid next month6. Additional April operating expense also include miscellaneous of 5% ofsales, all paid in April7. April budgeted sales SAR 178000, 60% is collected in April and. The restin May8. April cash payment of March 31 liabilities incurred for March purchasesof inventory, SAR 172009. April purchases of inventory, SAR 21800 for cash and SAR 75000. Halfthe credit purchases will be paid in April and half in MayRequirements:a) Prepare the cash budget for April.b) Prepare the budgeted balance sheet at April 30,2020.c) Prepare the budgeted statement of cash flow for the April.

A balance sheet is a financial statement that represents the financial position of a company as on a…

A Saudi printing supply has applied for a loan. Riyad bank has requested a budget balance sheet at April 30.2020, and a budgeted statement of cash flows for April. The march 31,2020 budgeted balance sheet follows: Saudi printing supply Budgeted Balance Sheet March 31,2020 Assets Current assets: 10 1000 Cash 25600 Accounts receivable 23800 inventory Total Current Assets 150400

A Saudi printing supply has applied for a loan. Riyad bank has requested a budget balance sheet at April 30.2020, and a budgeted statement of cash flows for April. The march 31,2020 budgeted balance sheet follows: Saudi printing supply Budgeted Balance Sheet March 31,2020 Assets Current assets: 10 1000 Cash 25600 Accounts receivable 23800 inventory Total Current Assets 150400

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

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.

Question

A Saudi printing supply has applied for a loan. Riyad bank has requested a
budget balance sheet at April 30.2020, and a budgeted statement of cash
flows for April. The march 31,2020 budgeted balance sheet follows:
Saudi printing supply
Budgeted Balance Sheet
March 31,2020
Assets
Current assets:
10 1000
Cash
25600
Accounts receivable
23800
inventory
Total Current Assets
150400
Long term assets
Equipment
Less: accumulated depreciation
162200
25000
Total term assets
137200
Total Assets
287600
Liabilities
Current liabilities:
Account payable
17200
Total Liabilities
17200
Stockholders' Equity
Common stock
84000
Total stockholders' equity
186400
Total Liabilities and Stockholders' Equity
287600
Additional information:
1. April dividends of SAR5000 were declared and paid
2. April capital expenditures of SAR 32800 budgeted for cash purchase of
equipment
3. Cost of good sold 40% of sales
4. April depreciation expense SAR 1400
5. April operating expense, including salaries, total SAR76000.20% of which
will be paid in cash and the remainder will be paid next month
6. Additional April operating expense also include miscellaneous of 5% of
sales, all paid in April
7. April budgeted sales SAR 178000, 60% is collected in April and. The rest
in May
8. April cash payment of March 31 liabilities incurred for March purchases
of inventory, SAR 17200
9. April purchases of inventory, SAR 21800 for cash and SAR 75000. Half
the credit purchases will be paid in April and half in May
Requirements:
a) Prepare the cash budget for April.
b) Prepare the budgeted balance sheet at April 30,2020.
c) Prepare the budgeted statement of cash flow for the April.

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