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Prepare the budgeted income statement for june

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Reference no: EM131915405

Question - Raymer Industries has the following projected account balances for June 30, 2013:

Accounts payable $78,000

Sales $1,143,000

Accounts receivable $115,000

Capital stock $750,000

Depreciation, factory $36,000

Retained earnings (5/31) $538,000

Inventories (5/31 & 6/30) $213,000

Cash $93,000

Direct materials used $231,000

Equipment, net $313,000

Office salaries $192,000

Buildings, net $948,000

Insurance, factory $37,000

Utilities, factory $119,000

Wages, factory $208,000

Selling expenses $113,000

Bonds payable $200,000

Maintenance, factory $91,000

Prepare the budgeted income statement for June 2013.

Prepare the budgeted balance sheet as of June 30, 2013.

Reference no: EM131915405

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