Bank Management

Business Finance

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Question Description

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(a) An estimated income statement showing the effects of the expected transactions for the second quarter and third quarter

(b)Forecasts of collections from accounts receivable by months and of disbursements by months

( c ) A summary cash statement , showing the amount of bank loans and the repayment of them ; this statement should also show the expected cash balance at September 30 .

( d ) An estimated balance sheet showing the expected financial position of the Illinois Novelty Company at September 30

( e ) Upon completion , you will have three income statements and two balance sheets . Make a complete comparative financial analysis involving these four statements .

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Easy - Turn Toy Company Income Statement Quarter endd June 30, 1985 Revenue Gross: Billing (120,000 units at $3 each) Less: Provisions for uncollection Discount taken by customers Revenue from operations Beginning Inversion@$2.10 Expenses Factory cost of goods (160,000 UNITS PRODUCED) Materials appropriated to production Direct Labor costs incurred Factory overhead Variable costs: Fixed Costs Total Factory costs incurred Less: Unsold inventory of finished goods 40,000@2.10 Factory costs of goods sold Selling expenses(Which vary proportionately with sales) Administration costs and expenses (fixed) Total expenses Net Margin from operations Interest Earnings Before taxes Income Taxes Net Profits Indirect Labor Power Supplies, Misc. Supervision Property taxes Depreciation Insurance Miscellaneous $ $ $ 360.000 7.200 2.160 $ 9.360 $ 350.640 $ $ 160.000 128.000 $ $ $ 16.000 6.400 9.600 $ 32.000 $ $ $ $ $ 6.000 3.000 3.000 300 2.700 $ 15.000 $ $ 335.000 84.000 $ 251.000 $ $ 60.000 12.000 $ 323.000 $ 27.640 $ $ $ $ 750 2.230 6.115 6.115 Easy - Turn Toy Company Income Statement Quarter endd June 30, 1985 Revenue Gross: Billing (200,000 units at $3 each) Less: Provisions for uncollection Discount taken by customers $ $ $ 600.000 12.000 3.600 Revenue from operations Beginning Inversion@$2.10 Expenses Factory cost of goods (250,000 UNITS PRODUCED) Materials appropriated to production Direct Labor costs incurred Factory overhead Variable costs: Indirect Labor Power Supplies, Misc. $ $ 250.000 200.000 $ $ $ 25.000 10.000 12.000 Fixed Costs Supervision Property taxes Depreciation Insurance Miscellaneous $ $ $ $ $ 6.000 3.000 3.000 300 2.700 Total Factory costs incurred Less: Unsold inventory of finished goods 50,000@2.10 $ $ 512.000 105.000 Factory costs of goods sold $ 407.000 Selling expenses(Which vary proportionately with sales) Administration costs and expenses (fixed) $ $ 100.000 12.000 $ $ $ $ 750 2.230 6.115 6.115 Total expenses Net Margin from operations Interest Earnings Before taxes Income Taxes Net Profits $ 15.600 $ 584.400 $ 47.000 $ 15.000 $ 519.000 $ 65.400 ...
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