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Dorah, the sole stockholder of Marshall Inc., runs a home-cleaning service in the suburb of a large city. Her balance sheet as at March 31,
Dorah, the sole stockholder of Marshall Inc., runs a home-cleaning service in the suburb of a large city. Her balance sheet as at March 31, 2019 is as follows: Marshall Inc. Balance Sheet As at March 31, 2019 Assets Cash Accounts Receivable Equipment $4,900 $16,900 $9,800 $-2,000 $29,600 Accumulated Depreciation Total Assets Liabilities Accounts Payable $4,300 Notes Payable $12,300 Total Liabilities $16,600 Stockholder's Equity $13,000 Total Liabilities & Stockholder's Equity $29,600 . In the upcoming year, Dorah expects the following events to occur: Total revenues of $26,000 and total expenses of $13,210 100% of accounts receivable from the prior year will be collected in the following year Credit sales will represent 43% of revenues for the year 100% of accounts payable owing from 2019 will be paid off in 2020 . By the end of March, 2020, Marshall will owe its suppliers $3,600 No principal payments will be made on the bank loan during 2019 Purchase of new equipment for $2,800. The entire purchase will be financed through a bank loan Expect to have a cash balance of $23,300 at the end of fiscal 2020 Depreciate assets by $590 during 2020 . Do not enter dollar signs or commas in the input boxes. Use the negative sign for negative values. Prepare Marshall Inc.'s budgeted balance sheet as at March 31, 2020. Marshall Inc. Budgeted Balance Sheet As at March 31, 2020 Assets Cash $ x Accounts Receivable $ x Equipment X Accumulated Depreciation $ $ $ x Total Assets x Liabilities Accounts Payable $ Notes Payable x Total Liabilities $ $ $ x Stockholder's Equity X X Total Liabilities & Stockholder's Equity $
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