Rossi company has the following projected account balances

Reference no: EM13603979

Rossi Company has the following projected account balances for June 30, 20X9: Accounts payable $ 60,000 Sales $ 800,000 Accounts receivable $ 120,000 Capital stock $ 420,000 Depreciation, factory $ 24,000 Retained earnings ? Inventories (5/31 & 6/30) $ 180,000 Cash $ 56,000 Direct materials used $ 210,000 Equipment, net $ 260,000 Office salaries $ 92,000 Buildings, net $ 400,000 Insurance, factory $ 4,000 Utilities, factory $ 16,000 Plant wages $ 140,000 Selling expenses $ 50,000 Bonds payable $ 160,000 Maintenance, factory $ 28,000 Prepare a budgeted income statement AND a budgeted balance sheet as of June 30, 20X9

Reference no: EM13603979

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