XSIQ
*
Accounting - A budgeting problem - Fun Run Enterprises
A budgeting problem - Fun Run Enterprises
Fun Run enterprises commenced business in 2002. The following budgeted
information for the year ending 30.6.2003 has been provided.
* total sales for the year is expected to be $400 000
* 40% of sales are for cash
* staff are expected to be paid $60 000 in salaries
* sales returns [1] are anticipated at $3000
* cost of goods sold is to be set at 60% of (gross) sales. All goods are
bought on credit
* creditors are paid
* stock loss is expected to be $2400
* stock on hand at 30.6.2003 is anticipated to be $34 000
* advertising $16 000
* cleaning $6000
* drawings $45 000
* loan repayment $10 000
* discount expense $500
* bad debts $2000
1.7.2002
30.6.2003
ASSETS
$
$
Bank
11 000
?
Stock
32 000
34 000
Prepaid advertising
1 500
2 000
Debtors
52 000
55 000
Machinery
80 000
80 000
less Accumulated depreciation
(4 000)
(12 000)
LIABILITIES
Creditors
20 000
22 000
Accrued salaries
4 400
4 100
Accrued interest
6 500
Loan
100 000
90 000
Owner's equity
Capital
?
?
* prepare a cash budget
* prepare a Profit and Loss statement (budgeted) - functional
classification [2]not required
* prepare a classified balance sheet
View the text document for solution to the Fun Run Enterprises budgeting
problem.
Previous | Next
Links:
------
[1] http://alison.com/#
[2] http://alison.com/#
"Nós enviaremos as instruções para resetar a sua senha para o endereço associado. Por favor, digite o seu e-mail atual."