Answer to Question #283060 in Accounting for mafi

Question

ABC Company

Balance Sheet

December 31, 20x3

ASSETS

Current assets:

Cash Br. 10, 000

Account receivable 52,500

Merchandise inventory 48, 000

Unexpired insurance 1, 800 Br.112, 300

Plant assets:

Equipment, fixture and other Br.37, 000

Accumulated depreciation 12, 800 24, 200

Total assets Br.136,500

LIABILITIES AND OWNERS’ EQUITY

Liabilities:

Accounts payable Br.16, 800

Accrued wages and commissions payable 4, 250 Br.21, 050

Capital:

Owners’ equity 115,450

Total liabilities and owners’ equity Br.136, 500

InInstructions:

1) Using the data given above, prepare the following detailed schedules for the first quarter of the year

a) Sales budget

b) Cash collection budget

c) Purchase budget

d) Disbursement for purchases

e) Operating expenses budget

f) Disbursement for operating expenses

Answer 1

we will solve in EXCEL