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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
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 the
i
Data Table
April
May
$
200,000 | $
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
Total merchandise inventory required
Prepaid Insurance
1,600
Less:
Total Current Assets
$
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
1 nort
Total Assets](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F588b1606-a7cb-492f-b2c1-78dc429479a1%2F4f31edf5-db1a-463a-839b-044814ac4e17%2Fqgn615q_processed.png&w=3840&q=75)
Transcribed Image Text: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 the
i
Data Table
April
May
$
200,000 | $
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
Total merchandise inventory required
Prepaid Insurance
1,600
Less:
Total Current Assets
$
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
1 nort
Total 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 the
Data Table
April
May
200,000| $
204,000
Total budgeted sales
Property, Plant, and Equipment:
Equipment and Fixtures
40.000
Requirement 2. Prepare Burton's inventory, purchases, and cost of goods sold budget for April and May.
Less: Accumulated Depreciation
(12,000)
28,000
Burton Supply Company
113,600
Total Assets
Inventory, Purchases, and Cost of Goods Sold Budget
April and May, 2018
Liabilities
April
May
Current Liabilities:
Accounts Payable
$
16,000
Salaries and Commissions Payable
2,700
Plus:
Total merchandise inventory required
Total Liabilities
$
18,700
Stockholders' Equity
Less:
Common Stock, no par
25,000
Budgeted Purchases
Retained Earnings
69,900
Choose from any list or enter any number in the input fields and then click Check Answer.
Total Stockholders' Equity
94,900
$
113,600
Total Liabilities and Stockholders' Equity
1 part
Clear All](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F588b1606-a7cb-492f-b2c1-78dc429479a1%2F4f31edf5-db1a-463a-839b-044814ac4e17%2F6l12eg9_processed.png&w=3840&q=75)
Transcribed Image Text: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 the
Data Table
April
May
200,000| $
204,000
Total budgeted sales
Property, Plant, and Equipment:
Equipment and Fixtures
40.000
Requirement 2. Prepare Burton's inventory, purchases, and cost of goods sold budget for April and May.
Less: Accumulated Depreciation
(12,000)
28,000
Burton Supply Company
113,600
Total Assets
Inventory, Purchases, and Cost of Goods Sold Budget
April and May, 2018
Liabilities
April
May
Current Liabilities:
Accounts Payable
$
16,000
Salaries and Commissions Payable
2,700
Plus:
Total merchandise inventory required
Total Liabilities
$
18,700
Stockholders' Equity
Less:
Common Stock, no par
25,000
Budgeted Purchases
Retained Earnings
69,900
Choose from any list or enter any number in the input fields and then click Check Answer.
Total Stockholders' Equity
94,900
$
113,600
Total Liabilities and Stockholders' Equity
1 part
Clear All
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