Pacific Commerce Bank

Hugo Medical Supply has applied for a loan. Pacific Commerce Bank has requested a budgeted balance sheet as of April 30 and a combined cash budget for April. As Hugo Medical Supply’s controller, you have assembled the following information:  March 31 equipment balance, $52,600; accumulated depreciation, $41,300  April capital expenditures of $42,400 budgeted for cash purchase of equipment  April depreciation expense, $700  Cost of goods sold, 60% of sales  Other April operating expenses, including income tax, total $14,200, 35% of which will be paid in cash and the remainder accrued at April 30  March 31 owners’ equity, $92,600  March 31 cash balance, $40,300  April budgeted sales, $90,000, 70% of which is for cash. Of the remaining 30%, half will be collected in April and half in May.  April cash collections on March sales, $29,100  April cash payments of March 31 liabilities incurred for March purchases of inventory, $17,300  March 31 inventory balance, $29,200  April purchases of inventory, $10,700 for cash and $36,300 on credit. Half of the credit purchases will be paid in April and half in May.  Requirements  Prepare the budgeted balance sheet for Hugo Medical Supply at April 30. Show separate computations for cash, inventory, and owners’ equity balances.  Prepare the combined cash budget for April.  Suppose Hugo Medical Supply has become aware of more efficient (and more expensive) equipment than it budgeted for purchase in April. What is the total amount of cash available for equipment purchases in April, before financing, if the minimum desired ending cash balance is $14,000? (For this requirement, disregard the $42,400 initially budgeted for equipment purchases.)  Please use the library for your research. Do not use sites such as Wikipedia or Investopedia as your sources. If you use a website, make sure you review APA guidelines as to how to properly format websites as a source. Minimum word requirement: 400; include a cover page and a separate reference page listing your sources in proper APA style. Minimum 2 sources; your textbook can be one of your sources.

Struggling to find relevant content? Order a custom essay on
Pacific Commerce Bank
Let our experts save you the hassle
Order Now
Calculate the price
Make an order in advance and get the best price
Pages (550 words)
$0.00
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
Sign up, place your order, and leave the rest to our professional paper writers in less than 2 minutes.
step 1
Upload assignment instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
s
Get personalized services with GPA Fix
One writer for all your papers
You can select one writer for all your papers. This option enhances the consistency in the quality of your assignments. Select your preferred writer from the list of writers who have handledf your previous assignments
Same paper from different writers
Are you ordering the same assignment for a friend? You can get the same paper from different writers. The goal is to produce 100% unique and original papers
Copy of sources used
Our homework writers will provide you with copies of sources used on your request. Just add the option when plaing your order
What our partners say about us
We appreciate every review and are always looking for ways to grow. See what other students think about our do my paper service.
Nursing
Amazing work! I passed the assignment!
Customer 452707, August 20th, 2022
Classic English Literature
Nicely done. Ty. Worth every penny.
Customer 452455, June 6th, 2021
Exploring Gender in Science, Technology, and Mathematics
Very good work
Customer 452769, July 2nd, 2022
Psychology
Thank you so very much!!!
Customer 452517, May 11th, 2021
Social Work and Human Services
Excellent work
Customer 452587, September 4th, 2021
ENVIRONMENT SCIENCE
EXCELLENT
Customer 452813, June 19th, 2022
Other
GOOD
Customer 452813, July 5th, 2022
Social Work and Human Services
Awesome Work!
Customer 452587, October 20th, 2021
Nursing
Fantastic work on this project as usual.
Customer 452707, July 5th, 2022
Other
GREAT
Customer 452813, September 20th, 2022
Technology
The paper is everything I needed and more. I will add a title and a cover page to it. Other than that the paper turned out excellent.
Customer 452885, October 17th, 2022
Nursing
Thanks
Customer 452521, May 13th, 2021
OUR GIFT TO YOU
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat
error: Content is protected !!

Save More. Score Better. Use coupon code SPECIAL for a 15%discount