(tco 2) rossi company | Business & Finance homework help
(TCO 2) Rossi Company has the following projected account balances for June 30, 20X9:
Accounts payable $ 60,000
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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.
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