Bladerunners exercise 2 FS 102809

Bladerunners exercise 2 FS 102809 - Bladerunners, Inc....

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Bladerunners, Inc. Income Statement For the Year Ended December 31, 2010 Pro Forma Actual Variances Revenues Service Revenue 45,000 48,000 3,000 Sales Revenue 24,000 24,700 700 Total Revenues 69,000 72,700 3,700 Expenses Cost of Goods Sold 11,000 12,800 1,800 Salary Expense 4,000 4,200 200 Utilities Expense 5,000 5,400 400 Interest Expense 1,600 1,600 - Total Expenses 21,600 24,000 2,400 Net Income 47,400 48,700 1,300 Bladerunners, Inc. Statement of Retained Earnings For the Year Ended December 31, 2010 Pro Forma Actual Variances Balance, beginning of year 0 - - Net Income 47,400 48,700 1,300 Less: Dividends (5,000) (5,000) - Balance, end of year 42,400 43,700 1,300
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Bladerunners, Inc. Balance Sheet December 31, 2010 Pro Forma Actual Variances Assets: Cash 123,400 132,300 8,900 Accounts Receivable 15,000 14,000 (1,000) Blades Inventory 8,000 7,700 (300) Prepaid Rent 27,000 21,600 (5,400) Prepaid Insurance 3,000 3,600 600 Office Supplies 3,000 3,000 - Computer Equipment 24,000 24,000 - Office Equipment
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This note was uploaded on 02/24/2010 for the course GB 112 taught by Professor Osterheld during the Spring '10 term at Bentley.

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Bladerunners exercise 2 FS 102809 - Bladerunners, Inc....

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