Refer to Problems P22- 47B and P22- 48B. Requirements 1. Prepare Betas budgeted income statement for the
Question:
Refer to Problems P22- 47B and P22- 48B.
Requirements
1. Prepare Beta’s budgeted income statement for the first quarter of 2015.
2. Prepare Beta’s budgeted balance sheet for March 31, 2015.
3. Prepare Beta’s budgeted statement of cash flows for the first quarter of2015.
Transcribed Image Text:
BETA BATTING COMPANY Balance Sheet December 31, 2014 Assets Current Assets: Cash Accounts Recevable Raw Materials Inwentory Finished Goods Inventory Total Current Assets 30,000 24,500 13,000 21,000 $ 88,500 Property, Plant, and Equipment Equipment Less: Accumulated Depreciation 125,000 (50,000) 75,000 163,500 Total Assets Liabilities Current Liabilities: Accounts Payable 14,000 Stockholders' Equity 100,000 49,500 Common Stock Retained Earnings Total Stockholders Equity Total Liabdities and Stodholders' Equity 149,500 S 163,500
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Requirement 1 BETA BATTING COMPANY Budgeted Income Statement For the Quarter Ended March 31 2015 Sales Revenue from P2247B Req 1 325000 Cost of Goods ...View the full answer
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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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