Which of the following budgets is prepared last? a. Budgeted balance sheets are not dependent upon...
Which of the following budgets is prepared last?
a. Budgeted balance sheets are not dependent upon budgeted income statements
b. Budgeted income statements include amortization expenses
c. Cash budgets include amortization expenses
d. Production budget shows the cost of the raw material to be purchased
Homework Answers
Answer
--The correct answer is Option 'B' Budgeted income statements include amortization expenses is the only TRUE statement.
--Rest all options are FALSE or INCORRECT statement.
>Budgeted balance sheet is dependent on Income
Statement.
>Cash budget does not include amortisation expense as it not a
'cash' item.
>Production budget only contains information regarding products
to be produced.
--Note: The question does not go with the options provided. Please recheck if the question is for the given options.
Add Answer to:
Which of the following budgets is prepared last?
a. Budgeted balance sheets are not dependent upon...
Considering the budgets of a manufacturing firm, which of the following statements is false? The sales...
Considering the budgets of a manufacturing firm, which of the following statements is false? The sales budget must be prepared before the cash budget. The budgeted balance sheet must be prepared before the cash budget. The budgeted income statement must be prepared before the budgeted balance sheet. The production budget must be prepared before direct materials purchase budget.
The budgeted income statement is: A. dependent on the cash collections and cash disbursements budget B. the final budge...
The budgeted income statement is: A. dependent on the cash collections and cash disbursements budget B. the final budget prepared of the financial budgets C. the final budget of the master budget D. the final budget prepared of the operating budgets
Which one of the following are the components of the financial budgets? a. Budgeted statement of...
Which one of the following are the components of the financial budgets? a. Budgeted statement of profit or loss, budgeted statement of financial position, cash budget and capital expenditure budget. b. Budgeted statement of profit or loss, sales/fees budget and cash budget. c. Operating budget and production budget. d. Capital expenditure budget and manufacturing budget. Which one of the following statements about a budget is correct? a. Budget targets are always impossible to meet. b. Budgets must be prepared by...
Which of the following budgets are prepared before the sales budget? B) Budgeted Income Direct Labor...
Which of the following budgets are prepared before the sales budget? B) Budgeted Income Direct Labor Statement Budget Yes Yes No Yes No Yes D) Multiple Choice O Choice C O Choice D O Choice B O Choice A O
The management of Zigby Manufacturing prepared the following estimated balance sheet for March, 2015: ZIGBY MANUFACTURING...
The management of Zigby Manufacturing prepared the following estimated balance sheet for March, 2015: ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2015 Assets Cash $ 30,000 Accounts receivable 464,100 Raw materials inventory 98,505 Finished goods inventory 450,840 Total current assets 1,043,445 Equipment, gross 620,000 Accumulated depreciation (160,000) Equipment, net 460,000 Total assets $ 1,503,445 Liabilities and Equity ...
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017: ZIGBY MANUFACTURING...
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017: ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2017 Assets Cash 58,000 484,640 91,290 Accounts receivable Raw materials inventory Finished goods inventory 393,304 Total current assets 1,027,234 Equipment, gross Accumulated depreciation Equipment, net 636,000 168,000) 468,000 $1,495,234 Total assets Liabilities and Equity Accounts payable Short-term notes payable 206,390 30,000 Total current liabilities 236,390 Long-term note payable Total liabilities 525,000 761,390 Common stock 353,000 Retained earnings 380,844 Total...
3) Which of the following statements is NOT correct concerning the Cash Budget? A) The Cash...
3) Which of the following statements is NOT correct concerning the Cash Budget? A) The Cash Budget builds on earlier budgets and schedules as well as additional data. B) The Cash Budget should be prepared before the Budgeted Income Statement. C) The Cash Budget should be prepared before the Budgeted Balance Sheet. D) It is not necessary to prepare any other budgets before preparing the Cash Budget
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017: ZIGBY MANUFACTURING...
The management of Zigby Manufacturing prepared the following
estimated balance sheet for March 2017:
ZIGBY MANUFACTURING
Estimated Balance Sheet
March 31, 2017
Assets
Cash
$
53,000
Accounts receivable
392,400
Raw materials inventory
96,600
Finished goods inventory
313,920
Total current assets
855,920
Equipment, gross
626,000
Accumulated depreciation
(163,000
)
Equipment, net
463,000
Total assets
$
1,318,920
Liabilities and Equity
Accounts payable
$
204,800
Short-term notes payable
25,000
Total current liabilities
229,800
Long-term note payable
520,000
Total liabilities
749,800
Common stock
348,000...
They 70% on The management of Zigby Manufacturing prepared the following estimated balance sheet for March...
They 70% on The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017 To prepare a master budget for April May and June of 2017, management gothers the following information: Sales for March total 20,800 units Forecasted sales in units are as follows: April, 20.800, May 21,600, June, 20,900, and July, 20,000. Sales of 242.000 units are forecasted for the entire year. The product's selling price is $25.00 per unit and its total product cost is...
Which of the following budgets are prepared before the sales budget? B) Budgeted Income Direct Labor Statement Budget Yes Yes No Yes No Yes D) Multiple Choice O Choice C O Choice D O Choice B O Choice A O
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017: ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2017 Assets Cash 58,000 484,640 91,290 Accounts receivable Raw materials inventory Finished goods inventory 393,304 Total current assets 1,027,234 Equipment, gross Accumulated depreciation Equipment, net 636,000 168,000) 468,000 $1,495,234 Total assets Liabilities and Equity Accounts payable Short-term notes payable 206,390 30,000 Total current liabilities 236,390 Long-term note payable Total liabilities 525,000 761,390 Common stock 353,000 Retained earnings 380,844 Total...
3) Which of the following statements is NOT correct concerning the Cash Budget? A) The Cash Budget builds on earlier budgets and schedules as well as additional data. B) The Cash Budget should be prepared before the Budgeted Income Statement. C) The Cash Budget should be prepared before the Budgeted Balance Sheet. D) It is not necessary to prepare any other budgets before preparing the Cash Budget
The management of Zigby Manufacturing prepared the following
estimated balance sheet for March 2017:
ZIGBY MANUFACTURING
Estimated Balance Sheet
March 31, 2017
Assets
Cash
$
53,000
Accounts receivable
392,400
Raw materials inventory
96,600
Finished goods inventory
313,920
Total current assets
855,920
Equipment, gross
626,000
Accumulated depreciation
(163,000
)
Equipment, net
463,000
Total assets
$
1,318,920
Liabilities and Equity
Accounts payable
$
204,800
Short-term notes payable
25,000
Total current liabilities
229,800
Long-term note payable
520,000
Total liabilities
749,800
Common stock
348,000...
They 70% on The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017 To prepare a master budget for April May and June of 2017, management gothers the following information: Sales for March total 20,800 units Forecasted sales in units are as follows: April, 20.800, May 21,600, June, 20,900, and July, 20,000. Sales of 242.000 units are forecasted for the entire year. The product's selling price is $25.00 per unit and its total product cost is...
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