In: Accounting
Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company’s balance sheet as of June 30th is shown below: |
Beech Corporation Balance Sheet June 30 |
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Assets | ||||||||||||
Cash | $ 75,000 | |||||||||||
Accounts receivable | 140,000 | |||||||||||
Inventory | 66,500 | |||||||||||
Plant and equipment, net of depreciation | 227,000 | |||||||||||
Total assets | $ 508,500 | |||||||||||
Liabilities and Stockholders’ Equity | ||||||||||||
Accounts payable | $ 88,000 | |||||||||||
Common stock | 311,000 | |||||||||||
Retained earnings | 109,500 | |||||||||||
Total liabilities and stockholders’ equity | $ 508,500 | |||||||||||
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