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"Budgeted income statement and balance sheet
As a preliminary to requesting budget estimates of sales, costs, and expenses for the fiscal year beginning January 1, 2013, the following tentative trial balance as of December 31, 2012, is prepared by the Accounting Department of Tahiti Blossom Soap Co.:
Cash $100,000
Accounts Receivable 12,300
Finished Goods 76,700
Work in Process 24,300
Materials 54,100
Prepaid Expenses 3,400
Plant and Equipment 295,000
Accumulated Depreciation-Plant and Equipment $140,400
accounts payable 59,000
Common Stock, $10 par 210,000
Retained Earnings 256,400
$665,800 $665,800
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    Problem 22-5A
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