Question
CZ is merchandising company engaged in the purchasing and selling of electrical appliances. You as a management accountant have been asked to prepare a complete
CZ is merchandising company engaged in the purchasing and selling of electrical appliances. You as a management accountant have been asked to prepare a complete master budget for your store for June, July and August, so you gather the following data as of may 31,2005:
Cash 21,000
Inventory 300,000
Accounts receivable 261,000
Net furniture and fixtures 120,000
Total assets 702,000
Accounts payable 340,000
Owners equity 362,000
Total liabilities and owners equity 702,000
Recent and projected sales
April 200,000
May 250,000
June 500,000
July 300,000
August 300
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Accounting Information Systems The Crossroads of Accounting & IT
Authors: Donna Kay, Ali Ovlia
2nd Edition
132991322, 978-0132991322
