Refer to Problems P22A- 43A and P22A- 44A. Requirements 1. Prepare a budgeted income statement for the
Question:
Refer to Problems P22A- 43A and P22A- 44A.
Requirements
1. Prepare a budgeted income statement for the two months ended May 31, 2014.
2. Prepare a budgeted balance sheet as of May 31, 2014.
3. Prepare the budgeted statement of cash flows for the two months ended May 31,2014.
Transcribed Image Text:
THUMBTACK OFFICE SUPPLY Balance Sheet March 31, 2014 Assets urent Assets Cash Accounts Receivable Merchandise Inventory Prepaid Insurance Total Current Assets $ 18,000 12,000 16,000 2,200 5 48,200 Property, Plant and Equipment: Equipment and Fixtures Less: Accumulated Depreciation otal Assets 45,000 30,000) 15,000 S 63,200 Liabilities urrent iabilities Accounts Payable Salaries and Commissions Payable otal abilities 12,500 1,400 5 13,900 Stockholders' Equity 16,000 33,300 ommon Stock Retained Earnings 49,300 S 63,200 Total StockholdersEquity otal iabilities and Stockholdrs Equity
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Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133255584
4th Edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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