Reference no: EM132793802
BAM Company has the following projected account balances for September 30 of the current year:
Accounts payable - 20,000
Accounts receivable -50,000
Depreciation, factory - 12,000
Inventories (8/31) - 90,000
Inventories (9/30) - 90,000
Materials used - 100,000
Office salaries - 40,000
Insurance, factory - 2,000
Factory wages - 70,000
Bonds payable - 80,000
Sales - 400,000
Capital stock - 200,000
Retained earnings (beginning) - 64,000
Maintenance, factory - 14,000
Cash - 28,000
Equipment, net - 120,000
Buildings, net - 200,000
Utilities, factory - 8,000
Selling expenses - 30,000
Required:
Question A. Create a budgeted income statement for the month ended September 30.
Question B. Create a budgeted balance sheet as of September 30.
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