Russell company has the following projected account

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Reference no: EM13452384

Russell Company has the following projected account balances for June 30, 20X9:

Accounts payable	$ 60,000	Sales $ 800.000	800,000
Accounts receivable	$ 100,000	Capital stock $ 400.000	400,000
Depreciation, factory	$ 36,000	Retained earnings	?
Inventories (5/31 & 6/30)	$ 180,000	Cash $ 56.000	56,000
Direct materials used	$ 210,000	Equipment, net $ 260.000	260,000
Office salaries	$ 92,000	Buildings, net $ 400.000	400,000
Insurance, factory	$ 4,000	Utilities, factory $ 16.000	16,000
Plant wages	$ 140,000	Selling expenses $ 50.000	50,000
Bonds payable	$ 160,000	Maintenance, factory $ 28.000	28,000

Prepare a budgeted income statement AND a budgeted balance sheet as of June 30, 20X9.

Reference no: EM13452384

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