I-21.04 Worksheet

I-21.04 Worksheet - Name Date I-21.04 Section OSHKOSH...

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Unformatted text preview: Name: Date: I-21.04 Section: OSHKOSH SYSTEMS Budgeted Income Statement For the Year Ending December 31, 20X4 Sales Cost of goods sold Beginning finished goods Cost of goods manufactured Goods available for sale Less: Ending finished goods inventory Cost of goods sold Gross profit SG&A Income before interest and taxes Interest Income before taxes Income taxes (40%) Net income $ $ $ 10,000,000 2,000,000 5,000,000 7,000,000 3,000,000 $ 4,000,000 6,000,000 - $ - $ - $ - $ - $ $ $ OSHKOSH SYSTEMS Budgeted Balance Sheet December 31, 20X4 ASSETS Current Assets Cash * Accounts receivable Raw materials inventory Finished goods inventory Property, Plant, & Equipment Plant and equipment Less: Accumulated depreciation Total Assets Liabilities Current liabilities Accounts payable Notes payable Stockholders' equity Common stock Retained earnings Total liabilities and equity $ $ $ $ - - 1 of 2 Name: Date: * I-21.04 Section: Original planned cash balance Reduction in interest ($150,000 net of tax @ 40%) Sale of equipment Loss of tax savings from depreciation Receivables converted to cash Revised anticipated cash balance $ $ - 2 of 2 of ...
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This note was uploaded on 02/29/2012 for the course ACCOUNTING 101 taught by Professor Hudack during the Spring '11 term at FIU.

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I-21.04 Worksheet - Name Date I-21.04 Section OSHKOSH...

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