THUMBTACK OFFICE SUPPLY Budgeted estimate Sheet March 31, 2012 Goods Liabilities Current: Current: Cash $ 18,000 Accounts ascribable $ 12,500 Accounts receivable 12,000 Salary and commissions ascribable 1,400 Fund 16,000 Total exhibit debts $ 13,900 Preremunerated security 2,200 Total exhibit goods $ 48,200 Shareholders’ Equity Factory assets: Ordinary shares $ 16,000 Machines and fixtures 45000 Retained earings 33,300 Less: Accmulated Depreciation 30,000 Total shareholders’ equity 49,300 Total factory goods 15,000 Total debts and Total goods $63,200 shareholders’ equity $ 63,200 The budget committee of Thumbtack Office Supply has serene the controlthcoming axioms. a. Sales in April were $40,000. You prognosticate that per month sales procure repair 2% balance Aprils sales in May. Junes sales procure repair 4% balance Aprils sales. Julys sales procure repair 20% balance Aprils sales. Collections are 80% during the month of sale and 20% during the month behind sale. b. Thumbtack keeps fund of $11,000 plus 25% of the COGS budgeted control the instant month. COGS = 50% of sales proceeds. Dissipations are remunerated 30% during the month of dissipation and 70% in the month behind the purchase. c. Monthly stipend append up to $7,000. Sales commissions resembling 5% of sales control that month. Stipend and commissions are remunerated 30% in the month incurred and 70% in the instant month. d. Other monthly expenditures are listed below:
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