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Case #1 (4 marks) Dickson Company has the following projected account balances for September 30th of the current year. Accounts payable Accounts receivable Depreciation, factory
Case #1 (4 marks) Dickson Company has the following projected account balances for September 30th of the current year. Accounts payable Accounts receivable Depreciation, factory Finished goods inventory (Aug. 31) Finished goods inventory (Sept. 30) Materials used Office salaries Insurance, factory Factory wages Bonds payable $20,000 Sales 50,000 Capital stock 12,000 Retained earnings, beginning 90,000 Maintenance, factory 90,000 Cash 100,000 Equipment, net 40,000 Buildings, net 2,000 Utilities, factory 70,000 Selling expenses 80,000 $400,000 200,000 64,000 14,000 28,000 120,000 200,000 8,000 30,000 Required: (A) Prepare a budgeted income statement for the month ended September 30th. (2 marks) (B) Prepare a budgeted balance sheet as of September 30th. (2 marks)
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