View the step-by-step solution to: "Budgeted income statement and balance sheet As a preliminary to

"Budgeted income statement and balance s...
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"Budgeted income statement and balance sheet
As a preliminary to requesting budget estimates of sales, costs, and expenses for the fiscal year beginning January 1, 2013, the following tentative trial balance as of December 31, 2012, is prepared by the Accounting Department of Tahiti Blossom Soap Co.:
Cash $100,000
Accounts Receivable 12,300
Finished Goods 76,700
Work in Process 24,300
Materials 54,100
Prepaid Expenses 3,400
Plant and Equipment 295,000
Accumulated Depreciation-Plant and Equipment $140,400
accounts payable 59,000
Common Stock, $10 par 210,000
Retained Earnings 256,400
$665,800 $665,800
Copy of 22-5A_24e.xls

Problem 22-5A
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Score: 78%
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1.
TAHITI BLOSSOM SOAP CO.
Budgeted Income Statement
For the Year Ending December 31, 2013
Sales
Cost of goods sold:

$720,000

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Accounting.xls

Problem 22-5A
Name:
Section:
Score: 100%
Key Code:

Instructions

[Key code here]

Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot...

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