Near the end of 2013, the management of Simid Sports Co. , a manufacturing company prepared the following estimated balance sheet for December, 31 2013.
Using the information in the above document, prepare a master budget for each of the first three months of 2014, include the following component budgets (show supporting calculations as needed, and round amounts to the nearest dollar):
Monthly sales budgets (showing both budgeted unit sales and dollar sales)
Monthly merchandise purchases budgets
Monthly selling expense budgets
Monthly general and administrative expense budgets
Monthly capital expenditure budgets
Monthly cash budgets
Budgeted income statement for the entire first quarter (not for each month)
Budgeted balance sheet as of March 31, 2014.