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Can someone Please check where i am going wrong with my balance sheet ? Schedule of expected cash collections begin{tabular}{|l|r|r|r|r|} hline & & & &
Can someone Please check where i am going wrong with my balance sheet ?
Schedule of expected cash collections \begin{tabular}{|l|r|r|r|r|} \hline & & & & \\ \hline & October & November & December & \multicolumn{1}{|c|}{ Total } \\ \hline 20% collected in same month & 43,400.00 & 46,200.00 & 47,040.00 & 136,640.00 \\ \hline 40% collected in next month & 86,800.00 & 92,400.00 & 94,080.00 & 273,280.00 \\ \hline 40% collected in second month & 86,800.00 & 92,400.00 & 94,080.00 & 273,280.00 \\ \hline Expected cash collections & 217,000.00 & 231,000.00 & 235,200.00 & 683,200.00 \\ \hline & & & & \\ \hline \end{tabular} \begin{tabular}{|l|r|r|r|r|r|} \hline \multicolumn{5}{|c|}{ Recievables } & \multicolumn{1}{l}{} \\ \hline & & & & & \multicolumn{1}{l}{} \\ \hline & October & November & December & January & February \\ \hline & 43,400.00 & & & & \\ \hline 20% collected in same month & & 86,800.00 & & & \\ \hline 40% collected in next month & & 46,200.00 & 86,800.00 & & \\ \hline 40% collected in second month & & & 92,400.00 & & \\ \hline & & & 47040 & 92,400.00 & \\ \hline & & & & 94080 & 94080 \\ \hline & & & & & 280,560.00 \\ \hline \end{tabular} Production Budget Direct Labor Budget \begin{tabular}{|l|r|r|r|r|} \hline & \multicolumn{1}{|c|}{ October } & November & December & \multicolumn{1}{c|}{ Total } \\ \hline Units to Be Produced & 7,375.00 & 8,325.00 & 7,975.00 & 23,675.00 \\ \hline Labor Hour required per unit & 0.35 & 0.35 & 0.35 & 0.35 \\ \hline Labor Hour required & 2,581.25 & 2,913.75 & 2,791.25 & 8,286.25 \\ \hline Cost per Hour & 19 & 19 & 19 & 19 \\ \hline Direct Labor Budget & 49,043.75 & 55,361.25 & 53,033.75 & 157,438.75 \\ \hline \end{tabular} Selling \& Admin Expense rank Dindrat Cost Of Goods Sold \begin{tabular}{|l|r|} \hline \multicolumn{2}{|c|}{ Income Statement } \\ \hline Sales & $683,200 \\ \hline Cost of Goods Sold & 382,704 \\ \hline Gross Profit & 182,170 \\ \hline Selling and Administrative Expenses & 79,480.00 \\ \hline Net Operating Income & $102,690 \\ \hline Less: Interest Expense & 58 \\ \hline Net Income & $102,632 \\ \hline \end{tabular} \begin{tabular}{|l|r|} \hline \multicolumn{2}{|c|}{ Retained Earnings } \\ \hline \multicolumn{2}{|c|}{} \\ \hline Retained Earnings Beginning & $364,178 \\ \hline Add: Net Income & 102,632 \\ \hline Less: Dividends & 58,000 \\ \hline Retained Earnings Dec, 31 & $408,810 \\ \hline \end{tabular} Balance SheetStep by Step Solution
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