Hoho Auto Links Ltd (HALL) Hoho Auto Links Ltd (HALL) manufactures a speciality part used in the steering linkages of luxury cars. The New Maryland, NB, Canada, company prides itself in being a crucial, albeit small, part of one of the world's renowned luxury motor vehicles. HALL is in the process of preparing its 2020 riscal year master budget and has presented you with the following information. The company has a December 31" fiscal year-end 1. The budgeted December 31, 2019 balance sheet for the company is shown below. Budget Relance She December 31, 2019 Lia Milinies & Scholders' Equity Cash 54450 Accounts payable $ 2.148 Accounts receivable (ed) Dividende payable 35,000 Raw materials inventory 300 Notes payable (De Feb 28, 2020) Finished poodi eventy 2,104 Prepaid in 1.800 Totallaties S67.148 Factory Building & Equipment $350,000 Come stock $120,000 Acated Retained camins JAK.546 depreciation Total Liabilities & Total assets SUS.689 Stockholders' Equity S05.684 The Accounts Receivable balance at 12/31/19 represents the remaining balances of November and December credit sales, net of any allowance for doubtful accounts. Sales were would be) $70,000 and $65,000, respectively, in those two months. Estimated sales in units for January through May 2020 are shown below, January 9,000 February 13,000 March 13,000 April 12.000 May 8,000 Currently, cach unit sells for S12. The company expects the selling price to increase to S13 per unit from March 1, 2020, HALL Hoho Auto Links Ltd (HALL) Hoho Auto Links Ltd (HALL) manufactures a speciality part used in the steering linkages of luxury cars. The New Maryland, NB, Canada, company prides itself in being a crucial, albeit small, part of one of the world's renowned luxury motor vehicles. HALL is in the process of preparing its 2020 riscal year master budget and has presented you with the following information. The company has a December 31" fiscal year-end 1. The budgeted December 31, 2019 balance sheet for the company is shown below. Budget Relance She December 31, 2019 Lia Milinies & Scholders' Equity Cash 54450 Accounts payable $ 2.148 Accounts receivable (ed) Dividende payable 35,000 Raw materials inventory 300 Notes payable (De Feb 28, 2020) Finished poodi eventy 2,104 Prepaid in 1.800 Totallaties S67.148 Factory Building & Equipment $350,000 Come stock $120,000 Acated Retained camins JAK.546 depreciation Total Liabilities & Total assets SUS.689 Stockholders' Equity S05.684 The Accounts Receivable balance at 12/31/19 represents the remaining balances of November and December credit sales, net of any allowance for doubtful accounts. Sales were would be) $70,000 and $65,000, respectively, in those two months. Estimated sales in units for January through May 2020 are shown below, January 9,000 February 13,000 March 13,000 April 12.000 May 8,000 Currently, cach unit sells for S12. The company expects the selling price to increase to S13 per unit from March 1, 2020, HALL
