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P. 1
Book P 21-23A

Book P 21-23A

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Published by Thalia Sanders

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Published by: Thalia Sanders on Mar 14, 2012
Copyright:Attribution Non-commercial

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03/14/2012

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P 21- 23AReq. 1
BEGINNING BALANCE
50,200.00$cash inflowscash sales (0.60 x 84000)50,400.00$collections [0.50 x 0.40 x $84,000) + $15,30032,100.00$cash outflowspayment of march liabilites(8,600.00)$cash purchases(10,800.00)$(18,600.00)$payments for April (credit) purchases (0.50 x $37,200)purchases of equipment(16,900.00)$Operating expenses (0.40 x $33,000)(13,200.00)$64,600.00$Ending balance
INVENTORY
Beginning balance…
11,800.00$Add:Purchases ($10,000 + $37,200)48,000.00$Less:Cost of goods sold (0.45 x $84,000)(37,800.00)$Ending balance22,000.00$
STOCKHOLDERS' EQUITY
Beginning balanceAdd:$136,700Less:Revenues$84,000Ending balanceExpenses(-71,400)$149,300
CASH
 
(continued) P 21-23ACurrent assets:Cash$64,600Accounts receivable (0.50 x 30 x $90,000)16,800Inventory22,000Total current assets$103,400Plant assets:Equipment ($80,900 + 16,900)$97,000Accumulated depreciation ($12,900 + $600)-13,50084,300187,700Current liabilities:Accounts payable (0.0 x $37,200)$18,600Accrued expenses payable (0.60 X $33,000)19,800Total liabilities $38,400Stockholders' equity149,300Total liabilities and owenrs' equity$187,700
STOCKHOLDERS' EQUITYLIABILITIESASSETS
Box Printing of BaltimoreBudgeted Balance Sheet30-Apr-11

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