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BALANCE SHEET to December 31, 2001 ASSETS: CURRENT CASH CUSTOMERS FINISHED GOODS INVENTORY TOTAL NO CURRENT LAND

BUILDING AND EQUIPMENT ACCUMULATED DEPRECIATION TOTAL TOTAL ASSETS

2,000 15,000 5,000 22,000 43,000 40,000 -5,000 78,000 100,000

LIABILITIES: A Koryo PAZO SUPPLIERS DOCUMENT PAYABLE TOTAL LIABILITIES C / P LONG TERM BONDS PAYABLE TOTAL LIABILITIES EQUITY CONTRIBUTED CAPITAL CAPITAL TOTAL CAPITAL TOTAL LIABILITIES + CAPITAL

DATA

Sales Budget $ 90,000 Budget MP required is equal to 25% of sales budget Materials purchases budget $ 32,000 Budget 30% MO sales budget Indirect manufacturing expense budget 10% higher than that of MO Operating expense budget is $ 7,000 Inventory desired finished end items is 4.600 85% of 2002 rows charged in that period, while 15% is charged on the next. The customer account charges 2001 2002 80% purchase of materials will be paid in 2002. The 20% will be paid in the next period. The budget depreciation is $ 2,000 (up to CIF). It prompted a loan $ 15,000 short-term Account 2001 suppliers liquidated The minimum cash sado should stay is $ 2,000 BALANCE SHEET AT 31 DECEMBER 2002 ASSETS CURRENT effective customers Stock finished article Inventory of merchandise TOTAL ASSETS NO CURRENT

2,000 13,500 4,600 9,500 29,600

LIABILITIES SHORT TERM suppliers Note payable Note payable TOTAL SHORT-TERM LIAB LONG-TERM LIABILITIES Notes payable

ground building accumulated depreciation TOTAL NON-CURRENT INCOME TOTAL ASSETS

43,000 40,000 -7,000 76,000 105,600

TOTAL LIABILITIES HERITAGE stockholders' equity Contributed capital Net income TOTAL ASSETS TOTAL LIABILITIES + EQUI

CALCULATION OF COST OF SALES Initial Finished Product Inventory + Production MPD required for Production MOD required for Production CIF required for Production = Disponoble FOR SALE - Final Invtario Finished Product = COST OF SALES

22,500 27,000 29,700

T 001

LIABILITIES: A Koryo PAZO SUPPLIERS DOCUMENT PAYABLE TOTAL LIABILITIES C / P LONG TERM BONDS PAYABLE TOTAL LIABILITIES EQUITY CONTRIBUTED CAPITAL CAPITAL TOTAL CAPITAL OTAL LIABILITIES + CAPITAL

30,000 5,000 35,000 5000 40,000 40,000 20,000 60,000 100,000

arged on the next.

will be paid in the next period.

ANCE SHEET ECEMBER 2002 LIABILITIES SHORT TERM suppliers Note payable Note payable TOTAL SHORT-TERM LIABILITIES LONG-TERM LIABILITIES Notes payable

6,400 15,800 15,000 37,200 5,000

TOTAL LIABILITIES HERITAGE stockholders' equity Contributed capital Net income TOTAL ASSETS TOTAL LIABILITIES + EQUITY

42,200 40,000 20,000 3,400 63,400 105,600

5,000

79,200 84,200 4,600 79,600

LEADING COMPANY SA CASH FLOW BUDGETED Beginning Cash Balance Operqcionales Tickets: collection 2001 collection 2002 Short term loan TOTAL TICKETS -Check Operational Payment providers 2001 Payment providers 2002 MOD 30% sales CIF Operating Expense = TOTAL OUTPUT Inputs / Outputs + Financing CASH
2,000 15,000 76,500 15,000 106,500 30,000 25,600 27,000 27,700 7,000 -117,300 -8,800 10,800 2,000

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