Accounts payable 28400 common stock 200000 retained

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Accounts payable 28,400 $ Common stock 200,000 Retained earnings 336,150 Total liabilities and stockholders' equity 564,550 $ 11,500 lbs. at $0.40/lb. 5,000 units at $4.99 each. 50% of June purchases of $56,800. 25% of June sales of $300,000.
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8-61 Royal Company Budgeted Balance Sheet June 30 Assets: Cash 43,000 $ Accounts receivable 75,000 Raw materials inventory 4,600 Finished goods inventory 24,950 Land 50,000 Equipment 367,000 Total assets 564,550 Liabilities and Stockholders' Equity Accounts payable 28,400 $ Common stock 200,000 Retained earnings 336,150 Total liabilities and stockholders' equity 564,550 $ Beginning balance 146,150 $ Add: net income 239,000 Deduct: dividends (49,000) Ending balance 336,150 $
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