Please help me fill out this Flexible Budget Sheet and Balance Sheet!!!!
EQUIM APIC Retained Earnings Account Tiles for Retained Emines $ 950.000 52.500 17.250 Sales Revenue Cost of Goods Sold 612.500 1259.000 Sales Revenue Cost of Goods Sold balance sheet Events ASUS Lia Cash Acct Rec Inventory Equipment Land Buildina Accum Deer Acct Payable Div Pavoble Notes Payable Wages Payable Commen Stock 1. Acquired $550.000 by signing a note payable with a local bank 550.000 550 mm 2. Sold 25.000 shares of 22 Common Stock for $1.500.000 $ 1.500.000 550.000 3. Purchased Equipment S $300.000 300.000 4. Purchased Inventory on Account - 25.000 Units at $1.15 per unit 28.750 29.700 5a. Sold 15.000 units at $3.0 on Account $ 52 500 56. COGS for Sales on Account 13 17.250 6. Collect $70.000 on Account $ 70,000 $ 170,000 7. Paid17280 l Accounts Payable 117.250 17.250 8. Purchased Inventory on Account - 170.000 Units at $1.50 per unit 255.000 255.000 9a. Sold 175.000 units at $3.50 on Account 13 612.500 9b. COGS for Sales on Account $ [259.000 10. Collect $472.500 on Account 472.500 5 (472.500 11. Paid $118.600 of Accounts Payable $(118.600) 1$ 1118.600.00 12. Purchased Inventory on Account - 275.000 Units at $1.35 per unit $ 371250 $ 371 250 13a. Sold 200.000 units at $3.50 on Account IS 700.000 13. COGS Scles on Account $ 270.7501 14. Collect $735.000 on Account $ 735.000 1735.000 15. Paid $294.150 of Accounts Payable $ 1294150 - $ 1294.150.00 16. Purchased Inventory on Account - 300.000 Units at $1.15 per unit 345.com 345 mm 17. Record Sales & Marketing Expenses of $30,000 35 30.000 18. Record Operating Expenses of $5.708 $ 19. Record Wage Expenses of $40,000 1$ 140,000 4000 20. Record Product Line Research & Development Expenses of $150,000 IS $ (150.0001 21. Record Advertising Expenses of $87.500 $ 187 500 22. Made the yearly required payment on the note payable. The note conies a 7% $ (88.500) interest rate and requires payments of $50.000 plus interest each December 31. (50,000) 23. Record Yr 1 Depreciation on Equipment with Salvage Value of $38.000 & useful te of 7 Y $ 37.428.57 24. Declared a $10.000 cash dividend torstockholders IS 10.000.00 25. Paid a $10,000 cash dividend forstockholders $ 110,000 $ 110.000.000 Balance at end of Yr3 $ 2115.792 87.500 5 453.000 $300,000 $ 300.000 SS 37429$ 6044505 500.000 200m 55000 200 000 1270 250] Sales Revenue Cost of Goods Sold 25701 $ S 1 $ 130.000 175.7081 40.000 1150.000 187 500) Sales & Marketing Expens Operating Expense Woge Expense Research & Development Expense Advertising Expense $ 138.500 Interest Expense $ (37.4291 110.000 Depreciation Expense Dividend S 950.000 349363 3 TA Towy 2.318803 2933600 Flexible Budget Master Budget at Actual Units Sold in Year 1 $ 1,365,000 Actual Units Sold + 25,000 $ 1,390,000.00 Actual Units Sold + 50,000 $ 1,415,000.00 Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Sales & Marketing Operating costs Wages Research & Development Expense Advertising Expense Depreciation Exp Interest Expense Net Income Balance Sheet Year 1 Assets Cash $ Total Assets $ Liabilities Accounts Payable Total Liabilities $ Stockholders Equity $ Total Stockholders Equity $ Total Liabilities and Stockholders Equity $
