I only need the solutions for
the image posted. Please format the answers in the same way as the
image
Budgeted Income Statement | ||
Sales Revenue | $ 1,430,000.00 | |
Total | $ 1,430,000.00 | |
COGS | $ 825,000.00 | |
Selling Expenses | $ 308,500.00 | |
General & Administration Expenses | $ 42,300.00 | |
Depreciation | $ 32,175.00 | |
Total Expenses | $ 1,207,975.00 | |
Net Profit | $ 222,025.00 | |
Income Tax | $ 86,589.75 | |
Net profit after tax | $ 135,435.25 |
I only need the solutions for the image posted. Please format the answers in the same way as the image a. The company's single product is purchased for $30 per unit and resold for $52 per unit Th...
Near the end of 2017, the management of Dimsdale Sports Co., a merchandising company, prepared the following estimated balance sheet for December 31, 2017 DIMSDALE SPORTS COMPANY Estimated Balance Sheet December 31, 2017 Assets Cash Accounts receivable Inventory Total current assets Equipment Less accumulated depreciation $36, 500 520,000 95,00 $651, 500 528,000 66.000 Equipment, net Total assets 462,000 1,113,500 Liabilities and Equity Accounts payable Bank loan payable Taxes payable (due 3/15/2018) Total liabilities Common stock Retained earnings Total stockholders equity...
Near the end of 2019, the management of Dimsdale Sports Co., a
merchandising company, prepared the following estimated balance
sheet for December 31, 2019.
DIMSDALE SPORTS COMPANY
Estimated Balance Sheet
December 31, 2019
Assets
Cash
$
36,000
Accounts receivable
520,000
Inventory
100,000
Total current assets
$
656,000
Equipment
528,000
Less: Accumulated depreciation
66,000
Equipment, net
462,000
Total assets
$
1,118,000
Liabilities and Equity
Accounts payable
$
365,000
Bank loan payable
14,000
Taxes payable (due 3/15/2020)
89,000
Total liabilities
$
468,000...
Please advise my math isnt adding up.. Near the end of 2017, the management of Dimsdale Sports Co., a merchandising company, prepared the following estimated balance sheet for December 31, 2017. DIMSDALE SPORTS COMPANY Estimated Balance Sheet December 31, 2017 Assets Cash $ 36,500 Accounts receivable 520,000 Inventory 90,000 Total current assets $ 646,500 Equipment 588,000 Less: accumulated depreciation 73,500 Equipment, net 514,500 Total assets $ 1,161,000 Liabilities and Equity Accounts payable $ 370,000 Bank loan payable 14,000 Taxes payable...
To prepare a master budget for January, February, and March of 2020, management gathers the following information. The company’s single product is purchased for $20 per unit and resold for $56 per unit. The expected inventory level of 5,250 units on December 31, 2019, is more than management’s desired level, which is 20% of the next month’s expected sales (in units). Expected sales are January, 7,250 units; February, 9,000 units; March, 10,750 units; and April, 10,000 units.Cash sales and credit sales...
Near the end of 2017, the management of Dimsdale Sports Co., a merchandising company, prepared the following estimated balance sheet for December 31, 2017. DIMSDALE SPORTS COMPANY Estimated Balance Sheet December 31, 2017 Assets Cash $ 36,500 Accounts receivable 520,000 Inventory 142,500 Total current assets $ 699,000 Equipment 552,000 Less: accumulated depreciation 69,000 Equipment, net 483,000 Total assets $ 1,182,000 Liabilities and Equity Accounts payable $ 370,000 Bank loan payable 14,000 Taxes payable (due 3/15/2018) 91,000 Total liabilities $ 475,000...
Near the end of 2017, the management of Dimsdale Sports Co., a merchandising company, prepared the following estimated balance sheet for December 31, 2017. DIMSDALE SPORTS COMPANY Estimated Balance Sheet December 31, 2017 Assets Cash $ 35,500 Accounts receivable 520,000 Inventory 105,000 Total current assets $ 660,500 Equipment 636,000 Less: accumulated depreciation 79,500 Equipment, net 556,500 Total assets $ 1,217,000 Liabilities and Equity Accounts payable $ 345,000 Bank loan payable 15,000 Taxes payable (due 3/15/2018) 89,000 Total liabilities $ 449,000...
Near the end of 2017, the management of Dimsdale Sports Co., a merchandising company, prepared the following estimated balance sheet for December 31, 2017 DIMSDALE SPORTS COMPANY Estimated Balance Sheet December 31, 2817 Assets Cash Accounts receivable Inventory Total current assets Equipment Less: accumulated depreciation $ 36,588 52e,888 2,500 699,800 576,8e0 Equipment, net Total assets 504,888 $1,283,8e8 Liabilities and Equity Accounts payable Bank loan payable Taxes payable (due 3/15/2818) Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities...
Near the end of 2019, the management of Dimsdale Sports Co., a merchandising company, prepared the following estimated balance sheet for December 31, 2019. DIMSDALE SPORTS COMPANY Estimated Balance Sheet December 31, 2019 Assets Cash $ 36,500 Accounts receivable 520,000 Inventory 105,000 Total current assets $ 661,500 Equipment 612,000 Less: Accumulated depreciation 76,500 Equipment, net 535,500 Total assets $ 1,197,000 Liabilities and Equity Accounts payable $ 375,000 Bank loan payable 12,000 Taxes payable (due 3/15/2020) 89,000 Total liabilities $ 476,000...
Assets Cash $ 35,500 Accounts receivable 520,000 Inventory 105,000 Total current assets $ 660,500 Equipment 636,000 Less: accumulated depreciation 79,500 Equipment, net 556,500 Total assets $ 1,217,000 Liabilities and Equity Accounts payable $ 345,000 Bank loan payable 15,000 Taxes payable (due 3/15/2018) 89,000 Total liabilities $ 449,000 Common stock 475,000 Retained earnings 293,000 Total stockholders’ equity 768,000 Total liabilities and equity The company’s single product is purchased for $20 per unit and resold for $54 per unit. The expected inventory...
Near the end of 2017, the management of Dimsdale Sports Co., a merchandising company, prepared the following estimated balance sheet for December 31, 2017. DIMSDALE SPORTS COMPANY Estimated Balance Sheet December 31, 2017 Assets Cash $ 36,000 Accounts receivable 520,000 Inventory 150,000 Total current assets $ 706,000 Equipment 648,000 Less: accumulated depreciation 81,000 Equipment, net 567,000 Total assets $ 1,273,000 Liabilities and Equity Accounts payable $ 365,000 Bank loan payable 16,000 Taxes payable (due 3/15/2018) 90,000 Total liabilities $ 471,000...