help please with the budgeted balance sheet
Budgeted Income Statement and Balance Sheet As a preliminary to requesting budget estimates of sales, costs, and expenses for the fiscal year beginning January 1 , 20r4, the following tentative trial balance as of December 31, 20Y3, is prepared by the Accounting Department of Regina Soap Co:- Foctory output and sales for 20x4 are expected to total 23,000 units of product, which are to be sold at $90 per unit, The quantities and costs of the imventories at December 31, 2004, are expected to remain unchanged from the bilances at the beginning of the year. Budget estimates of manufacturing costs and operating expenses for the year are sumnarized as follows: Ew wi vie year are nor expected to dilfer significantly from the beginning baiances. in March, June, September, and December on 35,000 shares of common stock cuestancure peguarterty cash dividends of $1 per share are expected to be dedared and paid Required: Regina Soap Co. Budgeted Income Statement For the Year Ending December 31, 20Y4 Sales Cost of goods sold: Direct materials Directiabor Eactory overhead Cost of goods sold Gross profit Operating expenses: Selling expenses: Sales salaries and commissions v Advertising v Miscellaneous selling expense Total selling expenses Administrative expenses: affice and officers salaries Supplies Total administrative expenses Total operating expenses Income before income tax F Check My Work Use information from the expected sales, cost of goods, and seling and administrative expenses. 2. Prepare a budgeted balance sheet as of December 31,20 Y. Property, plant, and equipment: Plant and equipment Less accumulated depreciation Total assets Llabilities Current liabilities: Accounts payable V Stockholders' Equity Common stock Retained earnings or Total stockholders' equity Totai liabilities and stockholders' equity Budgeted Income Statement and Balance Sheet As a preliminary to requesting budget estimates of sales, costs, and expenses for the fiscal year beginning January 1 , 20r4, the following tentative trial balance as of December 31, 20Y3, is prepared by the Accounting Department of Regina Soap Co:- Foctory output and sales for 20x4 are expected to total 23,000 units of product, which are to be sold at $90 per unit, The quantities and costs of the imventories at December 31, 2004, are expected to remain unchanged from the bilances at the beginning of the year. Budget estimates of manufacturing costs and operating expenses for the year are sumnarized as follows: Ew wi vie year are nor expected to dilfer significantly from the beginning baiances. in March, June, September, and December on 35,000 shares of common stock cuestancure peguarterty cash dividends of $1 per share are expected to be dedared and paid Required: Regina Soap Co. Budgeted Income Statement For the Year Ending December 31, 20Y4 Sales Cost of goods sold: Direct materials Directiabor Eactory overhead Cost of goods sold Gross profit Operating expenses: Selling expenses: Sales salaries and commissions v Advertising v Miscellaneous selling expense Total selling expenses Administrative expenses: affice and officers salaries Supplies Total administrative expenses Total operating expenses Income before income tax F Check My Work Use information from the expected sales, cost of goods, and seling and administrative expenses. 2. Prepare a budgeted balance sheet as of December 31,20 Y. Property, plant, and equipment: Plant and equipment Less accumulated depreciation Total assets Llabilities Current liabilities: Accounts payable V Stockholders' Equity Common stock Retained earnings or Total stockholders' equity Totai liabilities and stockholders' equity
