The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2019
Required:
Prepare the following budgets and other financial information as
required. All budgets and other financial information should be
prepared for the second calendar quarter, except as otherwise noted
below. (Round calculations up to the nearest whole dollar,
except for the amount of cash sales, which should be rounded down
to the nearest whole dollar.):
9. Budgeted income statement for the entire
second quarter (not for each month separately).
10. Budgeted balance sheet.
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The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2019 Sales for...
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2019. ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2019 Assets Cash $ 42,000 Accounts receivable 364,000 Raw materials inventory 107,200 Finished goods inventory 349,440 Total current assets 862,640 Equipment 604,000 Accumulated depreciation (152,000 ) Equipment, net 452,000 Total assets $ 1,314,640 Liabilities and Equity Accounts payable $ 211,300 Short-term notes payable 14,000 Total current liabilities 225,300 Long-term note payable 510,000 Total liabilities 735,300 Common stock 337,000 Retained...
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2019. ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2019 Assets Cash $ 80,000 Accounts receivable 364,000 Raw materials inventory 96,000 Finished goods inventory 364,800 Total current assets 904,800 Equipment 610,000 Accumulated depreciation (155,000 ) Equipment, net 455,000 Total assets $ 1,359,800 Liabilities and Equity Accounts payable $ 195,500 Short-term notes payable 17,000 Total current liabilities 212,500 Long-term note payable 510,000 Total liabilities 722,500 Common stock 340,000 Retained...
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2019. To prepare a master budget for April, May, and June of 2019, management gathers the following information. Sales for March total 20,000 units. Forecasted sales in units are as follows: April, 20,000; May, 19,000; June, 19,500; and July, 20,000. Sales of 245,000 units are forecasted for the entire year. The product’s selling price is $26.00 per unit and its total product cost is $22.80 per unit....
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2019. ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2019 Assets Cash $ 65,000 Accounts receivable 437,760 Raw materials inventory 90,200 Finished goods inventory 308,028 Total current assets 900,988 Equipment 630,000 Accumulated depreciation (165,000 ) Equipment, net 465,000 Total assets $ 1,365,988 Liabilities and Equity Accounts payable $ 204,500 Short-term notes payable 27,000 Total current liabilities 231,500 Long-term note payable 515,000 Total liabilities 746,500 Common stock 350,000 Retained...
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...
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017: ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2017 Assets Cash $ 48,000 Accounts receivable 438,750 Raw materials inventory 87,900 Finished goods inventory 383,760 Total current assets 958,410 Equipment, gross 616,000 Accumulated depreciation (158,000 ) Equipment, net 458,000 Total assets $ 1,416,410 Liabilities and Equity Accounts payable $ 187,200 Short-term notes payable 20,000 Total current liabilities 207,200 Long-term note payable 508,000 Total liabilities 715,200 Common stock 343,000...
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2019. To prepare a master budget for April, May, and June of 2019, management gathers the following information. Sales for March total 20,000 units. Forecasted sales in units are as follows: April, 20,000; May, 19,000; June, 19,500; and July, 20,000. Sales of 245,000 units are forecasted for the entire year. The product’s selling price is $26.00 per unit and its total product cost is $22.80 per unit....
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 Estimated Balance Sheet March 31, 2017 Assets Cash $ 50,000 Accounts receivable 434,240 Raw materials inventory 84,210 Finished goods inventory 368,000 Total current assets 936,450 Equipment, gross 602,000 Accumulated depreciation (151,000 ) Equipment, net 451,000 Total assets $ 1,387,450 Liabilities and Equity Accounts payable $ 196,610 Short-term notes payable 12,000 Total current liabilities 208,610 Long-term note payable 505,000 Total liabilities 713,610 Common stock 336,000...