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Tugas Alk-Adi Benowo Priyo M-1111000023

The document contains financial statements for TOP Corporation for Year 6. It reported $412,500 in sales and $123,750 in gross profit. Operating expenses were $113,750, resulting in net income of $10,000. Cash balance increased to $50,000 from $35,000 in Year 5. Cost of goods sold was $288,750 on inventory purchases of $331,750.

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60 views2 pages

Tugas Alk-Adi Benowo Priyo M-1111000023

The document contains financial statements for TOP Corporation for Year 6. It reported $412,500 in sales and $123,750 in gross profit. Operating expenses were $113,750, resulting in net income of $10,000. Cash balance increased to $50,000 from $35,000 in Year 5. Cost of goods sold was $288,750 on inventory purchases of $331,750.

Uploaded by

Dia Milikku
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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TOP CORPORATION

Income Statement
Yeear 6
Sales $ 412,500
COGS $ 288,750
Gross Profit $ 123,750
Operating Expense $ 113,750
Net Income $ 10,000

TOP CORPORATION
CASH FORECAST

Cash tahun 5
Cash receipt
Account Receivable 1 Jan. $ 75,000
Sales $ 412,500
Account Receivable 31 Des. $ (103,125)

Total Cash Available Tahun 5


Cash disbursements
Account payable 1 Jan $ 65,000
Purchases $ 331,750
Account payable 31 Dec $ (122,000)
$ 274,750
Payment of notes payable $ 2,500
Accrued Tax $ 9,000
Cash Expense $ 110,250

Estimated cash balance


Minimum cash Balance
Required to buy
TOP CORPORATION

Balance Sheet
Account Yeear 5 Yeear 6
Cash $ 35,000 $ 50,000
Account Receivable $ 75,000 $ 103,125
Inventory $ 32,000 $ 75,000
Fixed Assest $ 100,000 $ 100,000
Accumulated dep. $ 21,500 $ 25,000
Account Payable $ 65,000 $ 122,000
Notes Payable $ 17,500 $ 15,000
Tax Payable $ 9,000 $ -
Share Capital $ 100,000 $ 100,000

$ 35,000

$ 384,375
$ 419,375

Beginning Inventory $ 32,000


Purchased $ 331,750
Available for sale $ 363,750
Ending Inventory $ 75,000
COGS $ 288,750

Gross profit $ 123,750


$ 396,500 Depreciation $ 3,500
$ 22,875 Net Income (excludes expenses) $ 120,250
$ 50,000 Other Expense $ 110,250
$ 27,125 Net Income (inlude expenses) $ 10,000

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