Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

Russell Company has the following projected account balances for June 30, 20X3:

Accounts payable $55,000
Sales $925,000
Accounts receivable $125,000
Capital stock $500,000
Depreciation, factory $28,000
Retained earnings ?
Inventories (5/31 & 6/30) $195,000
Cash $66,000
Direct materials used $225,000
Equipment, net $280,000
Office salaries $90,000
Buildings, net $540,000
Insurance, factory $6,000
Utilities, factory $21,000
Wages, factory $155,000
Selling expenses $65,000
Bonds payable $170,000
Maintenance, factory $38,000

problem 1: find out the budgeted net income for June 20X3.

problem 2: find out the budgeted total assets as of June 30, 20X3.

 

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M947072

Have any Question? 


Related Questions in Accounting Basics

Fill in the amounts for x y and z in the following table

Fill in the amounts for X, Y, and Z in the following table. (The company started business on January 1, 2009 31-Dec-09 31-Dec-10 Assets $4,750 $5,350 Liabilites 2150 $1,400 Cantributed Capital $1,200 $1,200 Retained earn ...

Practice questionsin what circumstances would you recommend

Practice questions: In what circumstances would you recommend the use of the machine hour overhead absorption rate?

Assignmentnbsp question 1consolidation of wholly owned

Assignment   Question 1 Consolidation of wholly owned subsidiary, pre-acquisition equity and BCVR entries for assets and liabilities Lisa Ltd acquired all the issued shares of Kam Ltd on 1 January 2016 for $88 000. At th ...

Taskquestion 1 - business intelligenceyou are a recent

Task Question 1 - Business Intelligence You are a recent graduate working in a local accounting firm. Your firm provides advice to a large number of clients to assist them with their business. Your managing partner has a ...

1 introductionthis coursework assignment carries 30 of the

1. Introduction This coursework assignment carries 30% of the total of 100% for this Module. It comprises one requirement with one task. It is an individual not a group-based assignment. The task/requirement is detailed ...

Cablevision has been approached by the city of mirada to

CableVision has been approached by the City of Mirada to run its cable operations in 2016. After negotiating with key parties, CableVision has made the following agreements: - It will offer Mirada residents a basic set o ...

The morgan family lives in massachusetts they moor their

The Morgan family lives in Massachusetts. They moor their sailboat in Rhode Island. What might be a plausible reason for the possible inconvenience? Is the breadth and number of Federal excise taxes increasing or decreas ...

Q1- chart of accountsinnerscape interiors is owned and

Q1- Chart of accounts Innerscape Interiors is owned and operated by Jackie Vargo, an interior decorator. In the ledger of Innerscape Interiors, the first digit of the account number indicates its major account classifica ...

Accounting principles assignment-q1 smith catering service

Accounting Principles Assignment- Q1. Smith Catering Service completed the following transactions during its first month of operations for July 2016: a. Smith Catering Service commenced operations by receiving $12000 cas ...

Primary task response within the discussion board area

Primary Task Response: Within the Discussion Board area, write 300-400 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your cla ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate