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- X Tune Printing April 30, 2024 (Click the i Requirements Data Table Tune Printing Supply Balance Sheet Requirement Tu March 31, 2024 Assets 1. Prepare the sales budget for April. 2. Prepare the inventory, purchases, and cost of goods sold budget for April. 3. Prepare the selling and administrative expense budget for April. 4. Prepare the schedule of cash receipts from customers for April. 5. Prepare the schedule of cash payments for selling and administrative expenses for April 6. Prepare the cash budget for April. Assume the company does not use short-term financing to maintain a minimum cash balance 7. Prepare the budgeted income statement for April 8. Prepare the budgeted balance sheet at April 30, 2024. For the M Current Assets: Total budgeted Cash $ 50,400 Accounts Receivable Requirement 14,400 12,200 Merchandise Inventory Total Current Assets $ 77,000 Inve Property, Plant, and Equipment: Equipment and Fixtures 81,200 Print Done More (12,000) 69.200 Less: Accumulated Depreciation $ 146,200 Total Assets Liabilities Current Liabilities: Accounts Payable $ 7,800 Stockholders' Equity a. April dividends of $3,000 were declared and paid. b. April capital expenditures of $16,600 budgeted for cash purchase of equipment C. April depreciation expense, $700. d. Cost of goods sold, 45% of sales. e. Desired ending inventory for April is $20,300. f. April selling and administrative expenses include salaries of $34,000, 25% of which will be paid in cash and the remainder paid next month. g. Additional April selling and administrative expenses also include miscellaneous expenses of 10% of sales, all paid in April. h. April budgeted sales, $91,000, 60% collected in April and 40% in May. i. April cash payments of March 31 liabilities incurred for March purchases of inventory, $7,800. j. April purchases of inventory, $11,850 for cash and $37,200 on account. Half the credit purchases will be paid in April and half in May. Common Stock, no par $ 30,000 108,400 Retained Earnings Total Stockholders' Equity 138,400 $ 146,200 Total Liabilities and Stockholders' Equity Print Done Print Done

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