master budgets 22-5B Wild Wood Company\'s management asks you to prepare its mas

Question

master budgets 22-5B

Wild Wood Company's management asks you to prepare its master budget using the following information. The budget is to cover the months of April, May, and June of 2013 WILDWOOD COMPANY Balance Sheet March 31,2013 Liabilities and Equity Accounts payable Assets Cash Accounts receivable Inventory Total current assets Equipment, gross $156,000 2,000 68,000 200,000 368,000 235,000 138,000 373,000 $741.000 s 50,000 175,000 Short-term notes payable 126,000 Total current liabilities 51,000 Long-term note payable 480,000 Totl liabilities (90,000) Common stock 390,000 Retained Equipment, net earnings Total stockholders' equity Total liabilities and equity Total assets $741,000 Total

Explanation / Answer

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Sales Budget April May June July Unit Sales 10500 11025 11576 12155 Sale price per unit 25 25 25 25 Sale 262500 275625 289400 303875

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