Question: Comprehensive Budget Project To be completed using Excel. The Highlander Corporation Balance Sheet December 31, 2013 Assets Cash $ 4,595 Accounts Receivable 10,000 Finished Goods
Comprehensive Budget Project
To be completed using Excel.
The Highlander Corporation
Balance Sheet
December 31, 2013
Assets
| Cash |
| $ 4,595 |
| Accounts Receivable |
| 10,000 |
| Finished Goods (575 units x $7.00 per unit |
| 4,025 |
| Raw Materials (2760 square inches @ $0.50 per square inch) |
| 1,380 |
| Plant and Equipment | $ 60,000 |
|
| Less: Accumulated Depreciation | 10,000 | 50,000 |
| Total Assets |
| $ 70,000 |
Liabilities
| Trade Accounts Payable | 14,000 |
|
|
|
| 14,000 |
Stockholders
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