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Exercise 20-33A Merchandising: Budgeted balance sheet LO P3 The following Information is available for Zetrov Company: a. The

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Budgeted Balance Sheet is as prepared below:

ZETROV COMPANY
Budgeted Balance Sheet
As of March 31
Assets Amount ($) Amount ($)
Cash 64,700
Accounts receivable (131,000*.6) 78,600
Merchandise Inventory (710*40) 28,400
Total current assets 171,700
Equipment 82,900
Accumulated depreciation -33200
Equipment, net 49,700
Total assets 221,400
Liabilities
Accounts payable 90,100
Bank loan payable 15,500
Income taxes payable 27,100
Total liabilities 132,700
Equity
Common stock 30,500
Retained earnings (49,100+9,100) 58,200
Total Stockholders' Equity 88,700
Total Liabilities and Equity 221,400
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