Brian Lee, Coronado & Anthony's controller, has received all the budgets prepared by the various operating units and is ready to compile the pro-forma financial statements for the first quarter. The company's balance sheet as of December 31 is as follows:
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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 alt="The company expects a 30 % income tax rate, and all quarterly taxes are paid in the first month of the following quarter.
(a)
Prepare Coronado & Anthony's pro-forma income statement for the first quarter. (Enter negative amounts using either a
negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
Coronado& Hill
Income Statement
First Quarter
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+
$
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
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