es Prepare a budgeted balance sheet at March 31 using the following information from Zimmer Company. a. The cash budget for March shows an ending loan balance of $11,500 and an ending cash balance of $46,800. b. The sales budget for March shows sales of $123,000. Accounts receivable at the end of March are budgeted to be 70% of March sales. c. The merchandise purchases budget shows that $89,300 in merchandise will be purchased on credit in March. Purchases on credit are paid 100% in the month following the purchase. d. Ending merchandise inventory for March is budgeted to be 630 units at a cost of $40 each. e. Income taxes payable of $26,300 are budgeted at the end of March. f. Accounting records at the end of March show budgeted equipment of $83,700 with accumulated depreciation of $31,600. g. Common stock of $26,500 and retained earnings of $56,600 are budgeted at the end of March. ZIMMER COMPANY Budgeted Balance Sheet As of March 31

es Prepare a budgeted balance sheet at March 31 using the following information from Zimmer Company. a. The cash budget for March shows an ending loan balance of $11,500 and an ending cash balance of $46,800. b. The sales budget for March shows sales of $123,000. Accounts receivable at the end of March are budgeted to be 70% of March sales. c. The merchandise purchases budget shows that $89,300 in merchandise will be purchased on credit in March. Purchases on credit are paid 100% in the month following the purchase. d. Ending merchandise inventory for March is budgeted to be 630 units at a cost of $40 each. e. Income taxes payable of $26,300 are budgeted at the end of March. f. Accounting records at the end of March show budgeted equipment of $83,700 with accumulated depreciation of $31,600. g. Common stock of $26,500 and retained earnings of $56,600 are budgeted at the end of March. ZIMMER COMPANY Budgeted Balance Sheet As of March 31

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter9: Profit Planning And Flexible Budgets

Section: Chapter Questions

Problem 45BEB: Pilsner Inc. purchases raw materials on account for use in production. The direct materials...

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