An asterisk (*) will appear to the right of an incorrect entry.
1.
Sales
Cost of goods sold:
Direct materials
Direct labor
Factory overhead
Cost of goods sold
Gross profit
Operating expenses:
Selling expenses:
Sales salaries and commissions
Advertising
Miscellaneous selling expense
Total selling expenses
Administrative expenses:
Office and officers salaries
Supplies
Miscellaneous admin. expenses
Total administrative expenses
Total operating expenses
Supporting calculations for budgeted income statement:
Factory overhead: Office and officers salaries:
Variable overhead Fixed portion
Depreciation Variable portion
Other Total
Total
Sales salaries and commissions: Supplies expense:
Fixed portion Fixed portion
Variable portion Variable portion
Total Total
Miscellaneous selling expenses: Miscellaneous administrative expenses:
Fixed portion Fixed portion
Variable portion Variable portion
0%
Score:
Key Code:
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Instructions
Mesa Publishing Co.
Budgeted Income Statement
For the Year Ending December 31, 20Y9
Problem 22(8)-6B
Name:
Section:
Total Total
2.
Current assets:
Cash
Accounts receivable
Inventories:
Finished goods
Work in process
Materials
Prepaid expenses
Total current assets
Property, plant, and equipment:
Plant and equipment
Accumulated depreciation
Total property, plant, and equip.
Total assets
Current liabilities:
Accounts payable
Common stock
Retained earnings
Total stockholders’ equity
Total liabilities and stockholders’ equity
Supporting calculations for budgeted balance sheet:
Cash balance:
Balance, January 1, 20Y9
Plus cash from operations:
Net income (from budgeted income statement)
Depreciation (add back noncash item)
Less planned nonoperating cash outflows:
Dividends to be paid in 20Y9
Plant and equipment to be acquired in 20Y9
Balance, December 31, 20Y9
Retained earnings balance:
Balance, January 1, 20Y9
Plus expected net income for 20Y9
Less dividends to be paid in 20Y9
Balance, December 31, 20Y9
Liabilities
Stockholders’ Equity
December 31, 20Y9
Assets
Mesa Publishing Co.
Budgeted Balance Sheet
An asterisk (*) will appear to the right of an incorrect entry.
1.
Operating expenses:
Selling expenses:
Sales salaries and commissions 64,100$
Advertising 13,200
Supporting calculations for budgeted income statement:
Factory overhead: Office and officers salaries:
Sales salaries and commissions: Supplies expense:
Miscellaneous selling expenses: Miscellaneous administrative expenses:
Problem 22(8)-6B
Name:
Solution
Section:
Budgeted Income Statement
For the Year Ending December 31, 20Y9
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Score:
Instructions
Answers are entered in the cells with gray backgrounds.
ON
Mesa Publishing Co.
2.
Current assets:
Supporting calculations for budgeted balance sheet:
Cash balance:
Balance, January 1, 20Y9 26,000$
Liabilities
Mesa Publishing Co.
Budgeted Balance Sheet
December 31, 20Y9
Assets