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HOMEWORK5Prepare a budgeted balance sheet at March 31 using the following Information from ZImmer Company....

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Accounting

HOMEWORK5Prepare 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 $14,500 and an ending cash balance of $57,300.
b. The sales budget for March shows sales of $129,000. Accounts recelvable at the end of March are budgeted to be 70% of March
sales.
c. The merchandise purchases budget shows that $89,900 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 690 units at a cost of $30 each.
e. Income taxes payable of $26,900 are budgeted at the end march.
f. Accounting records at the end of March show budgeted equipment of $83,100 with accumulated depreciation of $32,800.
g. Common stock of $29,500 and retalned earnings of $57,800 are budgeted at the end march.
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