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Here's the information we were given... I am preparing a Cash Budget and can't figure out the blanks: The management of Zigby Manufacturing prepared the
Here's the information we were given... I am preparing a Cash Budget and can't figure out the blanks:
The management of Zigby Manufacturing prepared the following estimated balance sheet for March, 2015: ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2015 Assets Cash Accounts receivable Raw materials inventory Finished goods inventory $ 80,000 364,000 96,000 364,800 Total current assets Equipment, gross Accumulated depreciation 904,800 610,000 155,000) Equipment, net 455,000 Total assets $1,359,800 Liabilities and Equity Accounts payable Short-term notes payable 195,500 17,000 Total current liabilities Long-term note payable $ 212,500 510,000 Total liabilities Common stock Retained earnings 722,500 340,000 297,300 Total stockholders' equity 637,300 Total liabilities and equity $1,359,800
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