Thumbtack’s march 31, 2012, budgeted balance sheet follows:

Thumbtack’s March 31, 2012, budgeted balance sheet follows:  



Budgeted balance Sheet

March 31, 2012

Assets Liabilities

Current:     Current:    

Cash      $ 18,000   Accounts due  $ 12,500 

Accounts receivable  12,000   Salary and commissions due   1,400 

Stock      16,000   Total present debts  $ 13,900 

Prepaid insurance  2,200       

Total present assets    $ 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 assets  15,000  Total debts and  

Total assets   $63,200   shareholders’ equity  $ 63,200 


The budget committee of Thumbtack Office Supply has collected the following data.

a. Sales in April were $40,000. You predict that per month sales will enhance 2% over April’s sales in

 May. June’s sales will enhance 4% over April’s sales. July’s sales will enhance 20% over April’s sales.

 Collections are 80% during the month of sale and 20% during the month after sale.

b. Thumbtack keeps stock of $11,000 plus 25% of the COGS budgeted for the next

 month. COGS = 50% of sales income. Purchases are paid 30% during the month of purchase and 70%

 in the month after the purchase.      

c. Monthly wages add up to $7,000. Sales commissions equal 5% of sales for that month. Wages

 and commissions are paid 30% in the month incurred and 70% in the next month.

d. Other monthly expenditures are listed below:    


   Rent expenditure  $2,400 paid as accrued   

   Depreciation expenditure  $ 200     

   Insurance expenditure  $100, expiration of prepaid sum   

   Income tax    20% of operating revenue, paid as incurred     





1. Prepare Thumbtack’s sales budget for April and May, 2012. Round all amounts

 to the nearest $1.        

2. Prepare Thumbtack’s inventory, purchases, and cost of goods sold budget for

 April and May.        

3. Prepare Thumbtack’s operating expenses budget for April and May.

4. Prepare Thumbtack’s budgeted income statement for April and May.

Prime Paper Help
Calculate your paper price
Pages (550 words)
Approximate price: -

Why Work with Us

Top Quality and Well-Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

Professional and Experienced Academic Writers

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

24/7 Customer Support

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.


Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.


Admission Essays & Business Writing Help

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.


Editing Support

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.


Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.