11) Use revised budgets where appropriate and complete the Revised budgeted balance sheet below. Include amounts in the light blue cells. Your balance sheet may not balance due to rounding for weighted average cost per unit calculation in 9). Differences of $50 or less will not be marked wrong. Show your work to support all numbers. You must show Retained Earnings balance as Beginning + increase - decrease = ending balance to earn credit on the balance sheet. + IGBY MANUFACTURING Revised Budgeted Balance Sheet June 30, 2019 Assets Cash Accounts receivable Raw materials inventory Finished goods inventory Total current assets Equipment Accumulated depreciation Equipment, net Total assets Llabilities and Equity Accounts payable Bank loan payable Income taxes payable Total current liabilities Long-term note payable Total Liabilities Common stock Retained earnings Total Stockholders' Equity Total Liabilities and Equity Budgeted balance sheet. (Round your final answers to the nearest whole dollar.) $1,022,824 ZIGBY MANUFACTURING Budgeted Balance Sheet June 30, 2019 Assets Cash $ 58,000 Accounts receivable 455,520 Finished goods inventory 393,304 Raw materials inventory 116,000 Total current assets Equipment $ 784,000 Accumulated depreciation (283,080) Equipment, net Total assets Liabilities and Equity Liabilities Accounts payable $ 231,100 Bank loan payable 36,040 Income taxes payable 10,304 Total current liabilities Long-term note payable Stockholders' Equity Common stock 353,000 Retained earnings 368,300 Total Stockholders' Equity Total Liabilities and Equity 500,920 $1,523,744 277,444 525,000 721,300 $1,523,744 11) Use revised budgets where appropriate and complete the Revised budgeted balance sheet below. Include amounts in the light blue cells. Your balance sheet may not balance due to rounding for weighted average cost per unit calculation in 9). Differences of $50 or less will not be marked wrong. Show your work to support all numbers. You must show Retained Earnings balance as Beginning + increase - decrease = ending balance to earn credit on the balance sheet. + IGBY MANUFACTURING Revised Budgeted Balance Sheet June 30, 2019 Assets Cash Accounts receivable Raw materials inventory Finished goods inventory Total current assets Equipment Accumulated depreciation Equipment, net Total assets Llabilities and Equity Accounts payable Bank loan payable Income taxes payable Total current liabilities Long-term note payable Total Liabilities Common stock Retained earnings Total Stockholders' Equity Total Liabilities and Equity Budgeted balance sheet. (Round your final answers to the nearest whole dollar.) $1,022,824 ZIGBY MANUFACTURING Budgeted Balance Sheet June 30, 2019 Assets Cash $ 58,000 Accounts receivable 455,520 Finished goods inventory 393,304 Raw materials inventory 116,000 Total current assets Equipment $ 784,000 Accumulated depreciation (283,080) Equipment, net Total assets Liabilities and Equity Liabilities Accounts payable $ 231,100 Bank loan payable 36,040 Income taxes payable 10,304 Total current liabilities Long-term note payable Stockholders' Equity Common stock 353,000 Retained earnings 368,300 Total Stockholders' Equity Total Liabilities and Equity 500,920 $1,523,744 277,444 525,000 721,300 $1,523,744
