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Mod3ProjectOne - BALANCE SHEET XX ASSETS CASH ACCOUNTS...

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BALANCE SHEET DECEMBER 31, 20XX ASSETS CASH $30,000 ACCOUNTS RECEIVABLE 337,500 RAW MATERIALS INVENTORY 40,400 FINISHED GOODS INVENTORY 176,300 PROPERTY, PLANT & EQUIPMENT: COST $10,000,000 LESS ACCUMULATED DEPRECIATION 3,000,000 NET VALUE 7,000,000 TOTAL ASSETS $7,584,200 LIABILITES AND EQUITY ACCOUNTS PAYABLE $300,000 COMMISSIONS PAYABLE 25,000 LINE OF CREDIT PAYABLE 375,000 TOTAL LIABLITIES 700,000 COMMON STOCK 5,000,000 RETAINED EARNINGS 1,884,200 TOTAL EQUITY 6,884,200 TOTAL LIABILITIES AND EQUITY $7,584,200 SALES FORECAST: DECEMBER UNITS SOLD AND PRODUCED 5,000 SALES PRICE PER UNIT $225.00 EXPECTED INCREASE IN UNIT SALES EACH MONTH 5% SALES ARE COLLECTED AS FOLLOWS: COLLECTED IN THE MONTH OF SALE 70% COLLECTED IN THE MONTH FOLLOWING 30% FINISHED GOODS INVENTORIES DECEMBER, 20XX UNITS 1000 DESIRED ENDING INVENTORY OF NEXT MONTH'S SALES 20% OF UNITS UNIT COST OF FINISHED GOODS DECEMBER, 20XX $176,300 BALANCE SHEET
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RAW MATERIALS INVENTORIES SQ FT OR UNITS UNIT COST INV COST DECEMBER, 20XX: WOOD, IN SQUARE FEET 2,000 $20.00 $40,000.00 LEGS, IN UNITS 200 $2.00 400 TOTAL $40,400.00 ONE TABLE'S MATERIALS COST PER TABLE: WOOD, IN SQUARE FEET 3 $20.00 $60.00 LEGS, IN UNITS 4 $2.00 $8.00
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