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3 years ago

Preparing budgeted income statement.

Business

1 answer:

Shkiper50 [21]3 years ago

4 0

Answer:

Budgeted net income is $175,630

Explanation:

The budgeted income statement for the year ended 31 December , 2 011 is presented below , starting with the sales budget amount while budgeted costs of good sold and selling and administrative expenses are deducted from sales,

Budgeted sales $1,222,700

costs of goods sold ($727,300)

operating income $495,400

Selling and administrative expenses ($244,500)

Profit before tax $250,900

Taxes($250,900*30%) ($75,270)

net income $175,630

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Answer with Explanation:

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3 years ago

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