acc206week4disc - E2219Part1 Cash February28Balance...

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E22-19 Part 1 Summary of Budgeted Transactions for Oleandor Cash  + + Inventory + Equipment + February 28 Balance  11,400  +   5,150  +   17,720  +   34,800  +  Sales on credit  +   12,200  +   +   +  Cost of goods sold  +   +   (7,320) +   +  Depreciation expense  +   +   +   +  Operating expenses  (5,000) +   +   +   +  Collections on account  14,300  +   (14,300) +   +   +  Payments for inventory  (4,600) +   +   4,600  +   +  Payments on account  (8,200) +   +   +   +  March 31 balance  7,900  +   3,050  +   15,000  +   34,800  +  E22-19 part 2 Oleanders  Balanced budget Sheet March 31,2008 Assets Current assets:      Cash  7,900       Accounts receivable  3,050      Inventory  15,000  Plant assets:      Equipment  34,800       Less: Accumulated                 depreciation  (30,470)  4,330  Total assets  30,280  Liabilities Current liabilities:      Accounts payable
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This note was uploaded on 02/03/2011 for the course ACC 206 taught by Professor Any during the Spring '11 term at Ashford University.

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acc206week4disc - E2219Part1 Cash February28Balance...

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