BROWNING MANUFACTURING COMPANY
The management of Browning Manufacturing Company annually prepared a budget of expected financial operations for the ensuing calendar year. Provided is the Projected Balance Sheets, Income Statements & Statement of Cost of Goods Sold for 2009 and expected transactions for 2010 in order to prepare the 2010 budget.
A. ANALYZING FINANCIAL STATEMENTS FOR 2010
Below are the transaction report & trial balance of Browning Manufacturing Company for 2010 based on expected operations for the budget year 2010. From this, the task is to prepare a projected statement of cost of goods sold, projected income statement and projected balance sheet for 2010.
|Browning Manufacturing Company | |Projected Balance Sheet | |For the Year Ended December 31, 2010 | | | |Current Assets | |Projected Income Statement | |For the Year Ended December 31, 2010 | |Sales | |...