Prepare budgeted balance stitch corporation Business Economics
Use the following information to prepare a budgeted balance stitch corporation at march 31 .Show computation for the cash and owners’s equity ammounts. ______ + _______ – = equity ____ + ______ – = Prepare the assets section of the balance sheet , then prepare the liablities and owner’s equity section. a. march 31 inventory balance , $16,660. b. march payments for inventory $ 4,700 c. march payments for accounts payable and accrued liabilities , $ 8 ,300. d. march 31 account payable balance , $2,200. e.february 28 furniture and fixture balance, 34,700; accumulated depreciation balance , $29880 f. february 28 owners’ equity, $28,520. g. march depreciation expenses, $900 h. cost of goods sold, 50% of sales i. other march expenses, including income tax, total 7,000; paid in cash. j. february 28 cash balance $11,300. k. march budgeted sales $12,400 i, march 31 account receivable balance one – fourth of march sales m. march cash receipts $14,100
