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proforma income statement

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solution


Question

The cash budget for Parker Process Meats, Inc. for the fourth quarter of 2004 is given below;Parker Process Meats, Inc.;Cash Budget for the Three Months Ending December 31, 2004;Cash receipts Oct. Nov. Dec.;Total collections $31,050 $4,050 $49,950;Cash disbursements;Purchases 44,550 48,600 52,650;Wages and salaries 7,425 7,425 7,425;Other expenses 2,025 1,350 675;Taxes 17,415;Total disbursements $54,000 $57,375 $78,165;The expected sales for the period are as follows;Oct.: $86,400 Nov.: $91,800 Dec.: $83,700;The total depreciation expense for the period will be $8,775. An interest payment on outstanding debt of $15,000 will be made in December. Using the information given, construct a pro forma income statement for the final quarter of 2004 for Parker.

 

Paper#77659 | Written in 18-Jul-2015

Price : $27
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