ACC 311 SNHU SRS Educational Supply Company Case Study Executive Brief Presentation

Description

Overview
Cost accounting is used for two main purposes. The first purpose is to determine the actual costs of products, projects, processes, or services so an organization can report correct and accurate information on their financial statements. The second purpose is to aid the management team in making decisions and guiding the planning and control functions of the organization. Cost accounting provides an analysis of cost behavior, cost-volume-profit relationships, budgeting, resource costing, and activity- based costing. The roots of cost accounting are in the manufacturing business, but cost-accounting concepts are also used in service industries.
This assessment focuses on the SRS Educational Supply Company case study. SRS is a company that provides materials and supplies to educational institutions. The SRS business model is to be a one-stop provider of educational supply needs. For example, some of their product lines include workbooks, classroom visual aids, instructor support materials, art supplies, lab supplies, and administrative office supplies. While SRS serves all levels of educational institutions, the majority of their customers are K- 12 schools. Sales can vary quite a bit from month to month, as K-12 educational institutions have seasonal ordering patterns. Thus, budgeting is vital for planning and cash flow purposes. SRS has a June 30th fiscal year end.
 
 

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ACC 311 Final Project II Guidelines and Rubric
Overview
Cost accounting is used for two main purposes. The first purpose is to determine the actual costs of products, projects, processes, or services so an organization can report
correct and accurate information on their financial statements. The second purpose is to aid the management team in making decisions and guiding the planning and
control functions of the organization. Cost accounting provides an analysis of cost behavior, cost-volume-profit relationships, budgeting, resource costing, and activitybased costing. The roots of cost accounting are in the manufacturing business, but cost-accounting concepts are also used in service industries.
This assessment focuses on the SRS Educational Supply Company case study. SRS is a company that provides materials and supplies to educational institutions. The SRS
business model is to be a one-stop provider of educational supply needs. For example, some of their product lines include workbooks, classroom visual aids, instructor
support materials, art supplies, lab supplies, and administrative office supplies. While SRS serves all levels of educational institutions, the majority of their customers are K12 schools. Sales can vary quite a bit from month to month, as K-12 educational institutions have seasonal ordering patterns. Thus, budgeting is vital for planning and cash
flow purposes. SRS has a June 30th fiscal year end.
The final project is divided into two parts. In Final Project II, you will review the financial information provided for the four main departments of the organization: sales,
purchasing, operations, and finance. Based on the information provided, you will create departmental budgets for each of the four departments. You will then create a
master budget based on the department budgets. In addition, you will create an executive brief presentation regarding the budgeting process. You will also provide an
overview of the department and master budgets.
This final project contains one milestone, which is submitted in Module Five to scaffold learning and ensure quality final submissions. The final product will be submitted in
Module Seven.
In this assignment, you will demonstrate your mastery of the following course outcomes:


ACC-311-02: Prepare budgets for various purposes in order to aid managerial decision-making processes
ACC-311-03: Prepare cost accounting reports to internally communicate information to managerial decision makers
Prompt
The company has four main managers: a sales manager, a purchasing manager, an operations manager, and a finance manager. Each manager has both general information
about the company as a whole and information about their own department. The information known only by the departmental manager is more accurate than the general
corporate information.
Based on the information and data in the case study document, create a master budget for the three-month period beginning July 1st and ending September 30th. You are
responsible for creating a budget for each department that will become the master budget.
Specifically, you will address the following critical elements listed below. Most of the critical elements align with a particular course outcome (shown in brackets).
I.
Budgeting: Prepare Budgets
A. Review the financial information in the case study. Create spreadsheets and enter your data for the following:
1. Prepare the sales budget by month and in total. [ACC-311-02]
2. Prepare a schedule of expected cash collections from sales by month and in total. [ACC-311-02]
3. Prepare a merchandise purchase budget in dollars by month and in total. [ACC-311-02]
4. Prepare a schedule of expected cash disbursements for merchandise purchases by month and in total. [ACC-311-02]
5. Prepare a selling and administrative budget by month and in total. [ACC-311-02]
6. Prepare a schedule of expected cash disbursements for selling and administration by month and in total. [ACC-311-02]
7. Prepare a cash budget by month and in total. [ACC-311-02]
8. Prepare a budgeted income statement (pro forma) for the three-month period ending September 30th using the absorption costing approach.
[ACC-311-02]
9. Prepare a master budget balance sheet (pro forma) as of September 30th. [ACC-311-02]
II.
Reporting
A. Analyze Data
1. Briefly summarize each department budget and note any large variances. [ACC-311-03]
2. Explain two variances that might cause concern or prompt further analysis. [ACC-311-03]
B. Executive Brief Presentation
1. Create an executive briefing presentation in which you briefly summarize all budgets. Include all supporting documentation as addendums to the
brief. [ACC-311-03]
Milestones
Milestone One: Budgets
In Module Five, you will prepare and submit the department budgets. This submission will be graded using the Final Project II Milestone One Rubric.
Final Submission: Final Project II Submission
In Module Seven, you will submit your final project. You will compile the department budgets, master budget, and an overview of the budgeting process in an executive
brief presentation. Based on the performance analysis of the company’s press division, you will prepare a memo for the company’s leadership team to explain the
performance level of the press division and whether it should continue operations. It should be a complete, polished artifact containing all of the critical elements of the
final product. It should reflect the incorporation of feedback gained throughout the course. This submission will be graded using the Final Project II Rubric.
Final Project II Rubric
Guidelines for Submission: Your Final Project II submission is an organizational financial analysis report, which is your choice of a 12- to 15-page Microsoft Word document
OR a 12- to 15-slide Microsoft PowerPoint presentation (excluding title page and references list):


Word Document: If you submit a Word document, it should be double spaced, with 12-point Times New Roman font and one-inch margins, and it should use the
latest guidelines for APA formatting for references and citations. Include your name, course number and course name, and report title on the title page. Upload
your Final Project II Student Workbook with any edits based on instructor feedback as a separate addendum.
PowerPoint: If you submit a PowerPoint presentation, it should include speaker notes (in addition to slide bullet points for each budget) that briefly summarize
each of the budgets and the two variances. Upload your Final Project II Student Workbook with any edits based on instructor feedback as a separate addendum.
Critical Element
Exemplary
Proficient
Needs Improvement
Not Evident
Value
Budgeting: Sales
Budget
[ACC-311-02]
Prepares an accurate sales
budget by month and in total
based on the case study data
(100%)
Prepares a sales budget by month Does not prepare a sales
based on the case study data, but budget by month and in total
either does not make a total
(0%)
budget or there are errors in the
data entry or calculations (55%)
7
Budgeting: Schedule
of Expected Cash
Collections
[ACC-311-02]
Prepares an accurate schedule
of expected cash collections
from sales by month and in
total based on the case study
data (100%)
Prepares a schedule of expected
cash collections from sales by
month based on the case study
data, but either does not make a
total budget or there are errors in
the data entry or calculations
(55%)
Does not prepare a schedule of
expected cash collections from
sales by month and in total
(0%)
7
Budgeting:
Merchandise
Purchase Budget
[ACC-311-02]
Prepares an accurate
merchandise purchase budget
in dollars and shows the budget
by month and in total based on
the case study data (100%)
Prepares a merchandise purchase
budget in dollars and shows the
budget by month based on the
case study data, but either does
not make a total budget or there
are errors in the data entry or
calculations (55%)
Does not prepare a
merchandise purchase budget
in dollars showing the budget
by month and in total based
(0%)
7
Critical Element
Budgeting: Schedule
of Expected Cash
Disbursements for
Merchandise
[ACC-311-02]
Budgeting: Selling and
Administrative
Budget
[ACC-311-02]
Budgeting: Schedule
of Expected Cash
Disbursements for
Selling and
Administration
[ACC-311-02]
Budgeting: Cash
Budget
[ACC-311-02]
Budgeting: Budgeted
Income Statement
(Pro Forma)
[ACC-311-02]
Exemplary
Proficient
Needs Improvement
Not Evident
Value
Prepares an accurate schedule
of expected cash
disbursements for merchandise
purchases by month and in
total based on the case study
data (100%)
Prepares a schedule of expected
cash disbursements for
merchandise purchases by month
based on the case study data, but
either does not make a total
budget or there are errors in the
data entry or calculations (55%)
Does not prepare a schedule of
expected cash disbursements
for merchandise purchases by
month and in total (0%)
7
Prepares an accurate selling
and administrative budget by
month and in total based on
the case study data (100%)
Prepares a selling and
Does not prepare a selling and
administrative budget by month administrative budget by
based on the case study data, but month and in total (0%)
either does not make a total
budget or there are errors in the
data entry or calculations (55%)
7
Prepares an accurate schedule
of expected cash
disbursements for selling and
administration by month and in
total based on the case study
data (100%)
Prepares a schedule of expected
cash disbursements for selling
and administration by month
based on the case study data, but
either does not make a total
budget or there are errors in the
data entry or calculations (55%)
7
Prepares an accurate cash
budget by month and in total
based on the case study data
(100%)
Prepares a cash budget by month Does not prepare a cash
based on the case study data, but budget by month and in total
either does not make a total
(0%)
budget or there are errors in the
data entry or calculations (55%)
7
Prepares an accurate budgeted
income statement (pro forma)
for the three-month period
ending September 30th based
on the case study data (100%)
Prepares a budgeted income
statement (pro forma) for the
three-month period ending
September 30th based on the
case study data, but there are
errors in the data entry or
calculations (55%)
9
Does not prepare a schedule of
expected cash disbursements
for selling and administration
by month and in total (0%)
Does not prepare a budgeted
income statement (pro forma)
for the three-month period
ending September 30th (0%)
Critical Element
Proficient
Needs Improvement
Not Evident
Value
Budgeting: Master
Budget Balance Sheet
(Pro Forma)
[ACC-311-02]
Prepares an accurate master
budget balance sheet (pro
forma) for the three-month
period ending September 30th
based on the case study data
(100%)
Prepares a master budget
balance sheet (pro forma) for the
three-month period ending
September 30th based on the
case study data, but there are
errors in the data entry or
calculations (55%)
Does not prepare a master
budget balance sheet (pro
forma) for the three-month
period ending September 30th
(0%)
9
Reporting: Summarize
Each Department
Budget and Note Any
Large Variances
[ACC-311-03]
Meets “Proficient” criteria and Briefly summarizes each
displays in-depth knowledge of department budget and notes
budget and variance concepts any large variances (85%)
(100%)
Briefly summarizes each
department budget, but either
doesn’t note any large variances
or there are errors in the data
entry or calculations (55%)
Does not briefly summarize
each department budget or
note any large variances (0%)
9
Reporting: Explain
Two Variances
[ACC-311-03]
Exemplary
Meets “Proficient” criteria and
displays complex grasp of
triggers for variance concept
alerts (100%)
Reporting: Executive Meets “Proficient” criteria and
Briefing Presentation displays masterful application
[ACC-311-03]
of presentation skills (100%)
Articulation of
Response
Submission is free of errors
related to citations, grammar,
spelling, syntax, and
organization and is presented
in a professional and easy-toread format (100%)
Explains two variances that
Explains two variances that might Does not explain two variances
might cause concern or prompt cause concern or prompt further that might cause concern or
further analysis (85%)
analysis, but explanation is
prompt further analysis (0%)
illogical or contains errors (55%)
9
Creates an executive briefing
presentation in which all
budgets are summarized, and
presentation includes all
supporting documentation as
addendums to the brief (85%)
Creates an executive briefing
presentation in which budgets
are summarized, but either
summaries contain errors or
supporting documentation is
missing or incomplete (55%)
Does not create an executive
briefing presentation (0%)
10
Submission has no major errors
related to citations, grammar,
spelling, syntax, or organization
(85%)
Submission has major errors
related to citations, grammar,
spelling, syntax, or organization
that negatively impact readability
and articulation of main ideas
(55%)
Submission has critical errors
related to citations, grammar,
spelling, syntax, or organization
that prevent understanding of
ideas (0%)
5
Total
100%
1
Abby Olson
Southern New Hampshire University
April 3rd, 2022
SRS-BUDGETING
D. SRS educational press performed fairly well in 2017. The profit margin was
51.40%, showing that it was within the recommended range of between 50-70%. The sales
made by the company was $8000 with the costs of goods sold being $3890 i.e. ($4020-$130).
Therefore, the company made a profit of $4110 ($8000-$3890). A gross margin ratio of
51.40% is over 30%, a ratio aspect that can be considered very good for the SRS fiscal year
of 2017. Looking at these parameters of performance for SRS, it can be recommended that
they move on with the in-house press production. The difference in the used ($1,950) and
allocated ($2,080) manufacturing overheads i.e. ($2080-$1950) is $130. This represents the
over allocation, thus the company budgeting for manufacturing overheads was not correct. To
manage this challenge, it is advisable for SRS to distribute the costing to different accounts
that manage them. This is to say that SRS can prorate the costing between different related
departments of manufacturing. Managing overhead well, SRS will be able even to lower the
costs of goods sold better than the current levels and this will further increase its profit
margin. Therefore, I recommend SRS to continue with the in-house press production with
inclusion of the above recommended improvements.
E. AUTOMOBILE GARAGE and REPAIR WORKSHOPS are part of the products
related to job costing methods. Job costing is a method of costing in accounting process that
determines the cost of specific jobs that’s meets the customer’s specifications. It is often
applicable where job has separate projects or contracts, for instance, in car dealership, there
2
could be different preferences such as color type that makes that product cost differ from a
regular one. The benefits of job costing is that cost of each item is determined separately
hence, easy to know the profit/loss of each item. This in turn helps the management to
recognize those jobs that are more profitable and loss making one and forms the base of
future similar jobs planning and eventually helps in controlling costs via comparing actual
and estimated costs i.e. determining variances.
SRS business model involves the supply of educational materials to various
educational levels from elementary to tertiary levels. However, these businesses have
something in common in that they have the summers off, i.e. vacation days and holidays that
impacts the sales. Therefore, the fiscal budgeting per quarter would be more preferable than
the half year one.
Work Cited
https://tallysolutions.com/inventory/job-costing/
Southern New Hampshire University
Final Project II
ACC 311 – Cost Accounting – STUDENT WORKBOOK
MILESTONE ONE (Due in Module Five)
FINAL PROJECT (Due in Module Seven)
Instructions Milestone 1
1.
Sales Budget
Instructions Final Project
1.
Prepare Sales Budget
Prepare Schedule of
Expected Cash Collection
From Sales
2.
Purchasing Budget
Prepare Merchandise
Purchases Budget
Prepare Schedule of Expected
Cash Disbursements for
Merchandise Purchases
3.
Admin Budget
Prepare Selling and Admin
Budget, Including Expected
Cash Disbursements
4.
Cash Budget
Financial Statements
Prepare Budgeted Income
Statement
Prepare Budgeted Balance
Sheet
2.
Reporting
*Refer to Final Project II
Assignment Guidelines and
Rubric document
In a separate Word document
Analyze Data
1. Briefly summarize each department’s
budget – its purpose, what the
numbers represent, how they
can be used. Also, discuss the
month to month variances, what
they mean, and why they are
important
2. Explain two variances that might
cause concern or prompt further
analysis.
Prepare Cash Budget
In a separate Word document
or PowerPoint Presentation
Executive Brief Presentation
1. Create an executive briefing
presentation in which you briefly
summarize all budgets. Include all
supporting documentation as
addendums to the brief.
Southern New Hampshire University
College of Continuing Education (COCE)
ACC 311 – Cost Accounting – STUDENT WORKBOOK
INSTRUCTIONS FOR MILESTONE 1 (Due Week 5)
IMPORTANT NOTES:
Make sure to completely review the Milestone One Final Project II Rubric.
Use the data from this milestone and begin work on your final presentation, which is due in Module Seven.
ITEMS TO COMPLETE FOR THIS MILESTONE (Blue Tabs) :
GENERAL
You are the accountant tasked with creating the master budget for SRS Educational Supply Company. You have made your bud
assumptions (see the red tab labeled Part II Assumptions) and are ready to prepare the following:
SALES BUDGET
Prepare the sales budget by month and in total.
Prepare a schedule of excepted cash collections from sales by month and in total.
PURCHASING BUDGET
Prepare a merchandise purchases budget by month and in total.
Prepare a schedule of expected cash disbursements for merchandise purchases by month and in total.
ADMIN BUDGET
Prepare a selling and admin budget by month and in total.
Add expected cash disbursements for selling and admin by month and in total.
CASH BUDGET
Prepare a cash budget by month and in total.
FINANCIAL INFORMATION FOR BUDGETS – SEE PART II ASSUMPTIONS (RED TAB)
any. You have made your budget
and in total.
HOME
MOST LIKELY NUMBERS AND ASSUMPTIONS
SALES MANAGER PRIVATE INFORMATION
Most likely sales
PURCHASING MANAGER PRIVATE INFORMATION
Most likely cost of merchandise as a % of sales
Desired ending inventory as a percentage of next month’s cost of sales
OPERATION MANAGER PRIVATE INFORMATION
Most likely shipping expenses as a percent of sales
Most likely other expenses as a percent of sales
Salaries and wages (per month)
Most likely advertising costs (per month)
Most likely insurance costs (per month)
Depreciation expense (per month)
FINANCE MANAGER PRIVATE INFORMATION
Percent sales collected in month of sale
Percent sales collected in month after sale
Percent of inventory purchases paid in month of purchase
Percent of inventory purchases paid in month after purchase
Percent of operating expenses paid in month of purchase
Percent of operating expenses paid in month after purchase
Desired minimum ending cash balance each month
Borrow in increments of
Monthly interest rate on borrowings (not compounded)
Other planned outlays of cash
Capital expenditures
Dividends
SRS Educational Supply Company
Balance Sheet
Previous Year End
Assets
Current assets:
Cash
Accounts receivable
Inventory
Prepaid insurance
Total current assets
Buildings and equipment (net)
TOTAL ASSETS
Liabilities and Equity
Liabilites
Accounts payable
Notes payable
Total liabilities
Stockholder’s equity
Capital stock
Retained earnings
Total equity
TOTAL LIABILITIES AND EQUITY
$
July
600,000
$
August
910,000
September
$
475,000
$
$
August
90,000
–
$
$
$
$
$
448,000
860,000
1,308,000
Part 1 Information
45%
20%
Part 1 Information
5.0%
8.0%
$
85,000
$
50,000
$
3,000
$
25,000
Part 1 Information
30%
70%
50%
50%
100%
0%
$
$
35,000
1,000
1%
$
$
July
200,000
50,000
$
$
$
$
40,000
340,000
50,000
18,000
September
–
$
October
385,000
Home
$
$
$
$
130,000
$
130,000
$
$
1,178,000
1,308,000
420,000
758,000
Sales Budget
July
Sales
$
600,000
August
$
910,000
September
$
475,000
Schedule of Cash Collections
July
June sales (A/R From Beginning Balance Sheet)
$
July sales – Collected in Current Month
August
September
340,000
180,000
July sales – Collected in Following Month
420,000
August sales – Collected in Current Month
273,000
August sales – Collected in Following Month
637,000
September sales – Collected in Current Month
142,500
Total Expected Cash Collections
$
520,000
$
Total Sales for the Quarter
A/R at the end of the Quarter (September Sales Still not Collected)
693,000
$
779,500
t
View Assumptions
Quarter
$
1,985,000
llections
Quarter
$
340,000
180,000
420,000
273,000
637,000
142,500
$
1,992,500
$
$
1,992,500
332,500
HOME
View Assumptions
Sales
Cost of Merchandise as % of Sales
Budgeted Cost of Merchandise Sold
$
Following Month’s COGS
Desired Ending Inventory %
Desired Ending Inventory Dollars
$
Budgeted Cost of Merchandise Sold
Plus Desired Ending Inventory
Total Inventory Needs
Less Beginning Inventory
Required Purchases
$
$
Inventory Purchase Budget
July
August
September
October
600,000 $ 910,000 $ 475,000 $
385,000
45.00%
45.00%
45.00%
45.00%
270,000 $ 409,500 $ 213,750 $
173,250
500,500 $
20%
100,100
261,250 $
20%
52,250
211,750
20%
42,350
270,000
100,100
370,100
66,000
304,100
409,500
52,250
461,750
100,100
361,650
213,750
42,350
256,100
52,250
203,850
$
$
20%
173,250
Schedule of Expected Cash Disbursements – Purchases
June Purchases (A/P From Balance Sheet)
July Purchases
August Purchases
September Purchases
Total Disbursements
Cost of Merchandise Sold for the Quarter
Ending Inventory at the end of the Quarter
Ending A/P at the end of the Quarter
$
$
July
130,000
304,100
August
$
$
434,100
$
September
361,650
361,650
$
$
203,850
203,850
$
$
$
$
$
Quarter
130,000
304,100
361,650
203,850
999,600
$
$
$
999,600
42,350
203,850
sumptions
HOME
Sales
Shipping as a Percentage of Sales
Other Expenses as a Percentage of Sales
Selling and Administrative Budget
July
August
September
Quarter
$ 600,000 $ 910,000 $ 475,000 $
1,985,000
5%
5%
5%
5%
8%
8%
8%
8%
Variable Expenses:
Shipping
Other Expenses
Total Variable Expenses
Fixed Expenses:
Salaries and Wages
Advertising
Prepaid Insurance
Depreciation
Total Fixed Expesnes
Total Selling and Admin Expenses
30,000
48,000
78,000
45,500
72,800
118,300
23,750
38,000
61,750
85,000
50,000
3,000
25,000
163,000
241,000
85,000
50,000
3,000
25,000
163,000
281,300
85,000
50,000
3,000
25,000
163,000
224,750
99,250
158,800
258,050
0
255,000
150,000
9,000
75,000
489,000
747,050
Less Noncash Items (Depreciation and Prepaid Ins)
Total Cash Disbursements
28,000
213,000
28,000
253,300
28,000
196,750
84,000
663,050
Prepaid Insurance That Is Expensed During the Quarter
Depreciation Expense Recognized During the Quarter
$
$
9,000
75,000
View Assumptions
HOME
View Assumptions
Cash Balance: Beginning
Add Cash Collections (From Sales Budget)
Total cash Available
Less Cash Disbursements
For Inventory (From Purchasing Budget)
For Operating Expenses (From Selling and Admin Budget)
For Equipment
For Cash Dividends
For Interest (From Previous Month’s Borrowing)
Total Cash Disbursements
Excess (Deficiency) of Cash
Financing
Borrowing
Repayment
Total Financing
Cash Balance: Ending
Cash Budget
August
September
420,000
637,000
273,000
142,500
693,000
779,500
July
340,000
180,000
520,000
434,100
213,000
200,000
50,000
$
897,100
(377,100)
361,650
253,300
90,000
203,850
196,750
(3,421) $
701,529
(8,529)
(3,431)
397,169
382,331
(342,100)
(343,100)
(344,100)
35,000
334,571
38,231
Quarter
1,397,000
595,500
1,992,500
0
999,600
663,050
290,000
50,000
(6,852)
1,995,798
(3,298)
0
(1,029,300)
0
0
407,802
0
Outstanding Loan Balance
$
(1,029,300)
Interest on Borrowing (Due the Following Quarter)
$
(6,852)
umptions
HOME
Southern New Hampshire University
Final Project II
ACC 311 – Cost Accounting – STUDENT WORKBOOK
INSTRUCTIONS FOR FINAL PROJECT II (Due Module Seven)
IMPORTANT NOTES:
Make sure to completely review the Final Project II Rubric.
Use the data from Milestone One and begin work on your final presentation, which is due in Module Seven.
ITEMS TO COMPLETE FOR FINAL PROJECT II (Purple Tabs) :
GENERAL
Use data from Milestone One and the Part II Assumptions tab (the red tab) for your statement preparation.
BUDGETED FINANCIAL STATEMENTS
Prepare a budgeted income statement.
Prepare a budgeted balance sheet.
In a separate Word document
*Refer to Final Project II Assignment Guidelines and Rubric document
ANALYZE DATA
1. Briefly summarize each department’s budget – its purpose,
what the numbers represent, how they can be used.
Also, discuss the month to month variances, what
they mean, and why they are important.
2. Explain two variances that might cause concern
or prompt further analysis.
In a separate Word document or PowerPoint Presentation
EXECUTIVE BRIEF PRESENTATION
1. Create an executive briefing presentation in which you briefly
summarize all budgets. Include all supporting documentation
(the budgets/statements) as addendums to the brief.
Module Seven)
odule Seven.
ent preparation.
HOME
View Assumptions
SRS Educational Supplies Company
Budgeted Income Statement
For the Quarter Ended September 30th
Sales
Cost of Goods Sold
Gross Margin
Selling and Administrative Expenses
Shipping
Other
Salaries and Wages
Advertising
Prepaid Insurance
Depreciation
Net Operating Incomes
Less Interest Expense
Net Income
1,992,500
999,600
992,900
99,250
158,800
255,000
150,000
9,000
75,000
245,850
(6,852)
238,998
SRS Educational Supply Company
Balance Sheet
September 30th
Assets
Current Assets:
Cash
Accounts receivable
Inventory
Prepaid Insurance
$426,445
332,500
42,350
9,000
Home
Total Current Assets
Buildings and Equipment (Net)
Total Assets
Liabilities and Equity
Accounts Payable
Notes Payable
Stockholder’s Equity
Capital Stock
Retained Earnings
Total Liability and Equity
$810,295
1075000
$1,885,295
203,850
1,022,447
1,226,297
420000
238998
658,998
1,885,295
$0

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Budgeting

costs of products

seasonal ordering

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