22-5A_22e - December 31, 2009 Assets Current assets: Cash...

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Problem 22-5A Name: Section: Enter the appropriate amount in the shaded cells below. A red asterisk (*) will appear to the right of an incorrect amount in the outlined cells. 1. COCONUT GROVE SOAP CO. Budgeted Income Statement For the Year Ending December 31, 2009 Sales Cost of goods sold: Direct materials Direct labor Factory overhead Cost of goods sold Gross profit Operating expenses: Selling expenses: Sales salaries and commissions Advertising Miscellaneous selling expense Total selling expense Administrative expenses: Office and officers salaries Supplies Miscellaneous administrative expense Total administrative expense Total operating expenses Income before income tax Income tax expense Net income 2. COCONUT GROVE SOAP CO. Budgeted Balance Sheet
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Unformatted text preview: December 31, 2009 Assets Current assets: Cash Accounts receivable Inventories: Finished goods Work in process Materials Prepaid expenses Total current assets Property, plant, and equipment Plant and equipment Less accumulated depreciation Total assets Liabilities Current liabilities: Accounts payable Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Cash balance, December 31, 2009: Balance, January 1, 2009 Cash from operations: Net income Depreciation of plant and equipment Less: Dividends to be paid in 2009 Plant and equipment to be acquired in 2009 Balance, December 31, 2009...
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This note was uploaded on 03/12/2011 for the course ACCT 2011 taught by Professor Field during the Fall '09 term at University of Minnesota Morris.

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22-5A_22e - December 31, 2009 Assets Current assets: Cash...

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