ZIGBY MANUF Estimated Balance Sheet March 31, 2017 Assets Cash Accounts receivab

Question

ZIGBY MANUF Estimated Balance Sheet March 31, 2017 Assets Cash Accounts receivable Raw materials inventory Finished goods inventory Total current assets Equipment, gross Accumulated depreciation Equipment, net Total assets $ 51,000 483,600 94,100 443,520 1,072,220 622,000 (161,000) 461,000 $1,533,220 Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities Long-term note payable Total liabilities Common stock Retainkd earnings Total stockholders equity 211,400 23,000 234,400 515,000 749,400 346,000 437,820 783,820 $1,533,220 Total liabilities and equity

Explanation / Answer

(Ist Part)                                                  Budgeted Income Statement      

   April-June                            Units 62800

Sale (62800*31)                                                     (A)

Operating Exp:-

Raw Material (62800*0.5*20)

Particulars ($)

Sale (62800*31)                                                     (A)

1946800

Operating Exp:-

Raw Material (62800*0.5*20)

628000 Labour (62800*0.5*26) 816400 Variable O/H (62800*0.5*3.80) 119320 Depreciaton (31400*3) 94200 Sales Commission (1946800*5%) 97340 Salary (4100*3) 12300 Dividend 21000 G&Adm Exp (25000+4120)*3 87360 Total Operating Exp                                 (B) 1875920 Income         (A-B) 70880

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