Tyler Sheen is the owner of HLO Incorporated. He provided the selected opening balances as at June 1, 2019 and the budgeted information for June and July 2019. Selected Opening Balances as of June 1, 2019 Cash $47.700 Accounts Receivable 107,000 Inventory 105,000 Long-term Assets 727,000 Accounts Payable 53,800 Stockholder's Equity 937,000 Budgeted Amounts For the month of June: Total Revenue $298,000 Total General and Administration Costs 221,000 Total Capital Expenditures 179,000 For the month of July: Total Revenue 459,300 Total General and Administration Costs 188,000 Total Capital Expenditures 231.000 Sarah, the sole stockholder of Barnie Inc., runs a home-cleaning service in the suburb of a large city. Her balance sheel as alle 30, 2019 is as follows: Barnie Inc. Balance Sheet As at June 30, 2019 Assets Cash Accounts Receivable Equipment Accumulated Depreciation Total Assets $5,400 $18,200 $9,000 $-1,100 $31,500 Liabilities Accounts Payable $2,400 Notes Payable $11,100 Total Liabilities $13,500 Stockholder's Equity $18,000 Total Liabilities & Stockholder's Equity $31,500 In the upcoming year, Sarah expects the following events to occur Total revenues of $29,000 and total expenses of $16,090 100% of accounts receivable from the prior year will be collected in the following year Credit sales will represent 58% of revenues for the year 100% of accounts payable owing from 2019 will be paid off in 2020 Ry the end of June 2020. Barnie wilowessunniers $95.00 Tyler Sheen is the owner of HLO Incorporated. He provided the selected opening balances as at June 1, 2019 and the budgeted information for June and July 2019. Selected Opening Balances as of June 1, 2019 Cash $47.700 Accounts Receivable 107,000 Inventory 105,000 Long-term Assets 727,000 Accounts Payable 53,800 Stockholder's Equity 937,000 Budgeted Amounts For the month of June: Total Revenue $298,000 Total General and Administration Costs 221,000 Total Capital Expenditures 179,000 For the month of July: Total Revenue 459,300 Total General and Administration Costs 188,000 Total Capital Expenditures 231.000 Sarah, the sole stockholder of Barnie Inc., runs a home-cleaning service in the suburb of a large city. Her balance sheel as alle 30, 2019 is as follows: Barnie Inc. Balance Sheet As at June 30, 2019 Assets Cash Accounts Receivable Equipment Accumulated Depreciation Total Assets $5,400 $18,200 $9,000 $-1,100 $31,500 Liabilities Accounts Payable $2,400 Notes Payable $11,100 Total Liabilities $13,500 Stockholder's Equity $18,000 Total Liabilities & Stockholder's Equity $31,500 In the upcoming year, Sarah expects the following events to occur Total revenues of $29,000 and total expenses of $16,090 100% of accounts receivable from the prior year will be collected in the following year Credit sales will represent 58% of revenues for the year 100% of accounts payable owing from 2019 will be paid off in 2020 Ry the end of June 2020. Barnie wilowessunniers $95.00
