Question: Based on the following information gathered from the budgets indicated, create a Budgeted Balance Sheet for Pop Products, Inc. forluly 31, 2021. Source Budget Account



Based on the following information gathered from the budgets indicated, create a Budgeted Balance Sheet for Pop Products, Inc. forluly 31, 2021. Source Budget Account Amount Cash Budget Cash $44,510 Schedule of Cash Receipts Accounts Receivable $81,920 Direct Material Budget Raw Materials Inventory $30,020 Production Budget Finished Good Inventory 145 units Cost of Goods Sold Budget Finished Good Inventory 330 per unit 2020 Balance Sheet Equipment $321,060 Capital Expenditures Budget Equipment $174,510 2020 Balance Sheet Accumulated Depreciation $13,860 Manufacturing Overhead Budget Accumulated Depreciation $47,640 Schedule of Cash Payments Accounts Payable $26,250 2020 Balance Sheet Common Stock $335,920 2020 Balance Sheet Retained Earnings $72,290 Budgeted Income Statement Retained Earnings $203,910 ASSETS Current Assents Cash Accounts Receivable Raw Materials Inventory Finished Good Inventory Total Current Assets Property, Plant & Equipment Equipment Accumulated Depreciation TOTAL ASSETS LIABILITIES Current Liabilities Accounts Payable Stockholders Equity Common Stock Retained Earnings Total Stockholders Equity TOTAL LIABILITIES AND STOCKHOLDERS EQUITY
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
