Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Proforma balance sheet --Banic Leotard Industries wishes to prepare a pro forma belance sheet for December 31, 2020. The fom expecta 2020 als to $3.000.000

image text in transcribed
Proforma balance sheet --Banic Leotard Industries wishes to prepare a pro forma belance sheet for December 31, 2020. The fom expecta 2020 als to $3.000.000 The flowing information has been catered (1) A minimum cash balance of $40.500 desired 12 Marble courties are expected to remain unchanged 13 Acourbe represent 10. Nole 14 Inventors represent 124% of skins A machine costing 100,400 will be oured during 2020. Total depreciadon for the year will be $32,000 Accounts payable represent 14 of sales Arus other currentes, long-term e, and common stock are expected to remain unchanged. There argint 4.1, and expects to you 170.200 in cash dividends during 2020 (The Dember 31, 2010. hele shot follow Use the pagestalproach to prepare a proforma balance sheet dated December 31, 2020 for Leonard Industries t. How much fandt in wil Lecard Industrie rede in 20207 Discus Complete the part of the proformance sheet for Leonard Industries for December 31, 2020 below Data Table Pro Forma Balance Sheet Leonard Industries December 31, 2030 Click on the centre in order to copy the contents of the data she twowe Assets Leonard Industries Balance Sheet December 31, 2015 Current Assets Liabilities and Stockholders' Equity Can 145.00 Cash Accounts payable $ 40500 Markearesoltes 15. 300 Accu Marae securita 10300 Accounts rotatin 254.500 Oreres Accounts receivable 203000 Inverter 340.450 TO Tuburan 2000 5855200 Intrare Lange Net End 599,700 Common och Testeurina $ T31000 Ratings $1.29.000 Nal 300 50.000 29.00 SO 151200 200,300 210 - Done Enuaribe in the edities and then dick Check Answer parts CA 3

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Using QuickBooks Accountant 2018 For Accounting

Authors: Glenn Owen

16th Edition

0357042085, 9780357042083

More Books

Students also viewed these Accounting questions

Question

Question 1 (a2) What is the reaction force Dx in [N]?

Answered: 1 week ago