Chapter 21 Budgeting I. Estimated other income and expense for December: Interest revenue Interest expense $200 J. Estimated tax rate: 30% 122 Feathered Friends Inc. Budgeted Income Statement For the Month Ending December 31. 2070 Revenue from Sales COGS 370,000 203,708 Gross Profit Selling and Admin. Expenses : Selling Expenses Administrative Expenses Total SellinG and Admin. Expenses 1666.292 92,550 72.450 ం 51,292 Inceme from Operations Other Revenue and Epenses: interest Bevenue Interest Expcnse Income before Income Tak income TaX 200 78 (122) S1,370 Net income 00

Chapter 21 Budgeting I. Estimated other income and expense for December: Interest revenue Interest expense $200 J. Estimated tax rate: 30% 122 Feathered Friends Inc. Budgeted Income Statement For the Month Ending December 31. 2070 Revenue from Sales COGS 370,000 203,708 Gross Profit Selling and Admin. Expenses : Selling Expenses Administrative Expenses Total SellinG and Admin. Expenses 1666.292 92,550 72.450 ం 51,292 Inceme from Operations Other Revenue and Epenses: interest Bevenue Interest Expcnse Income before Income Tak income TaX 200 78 (122) S1,370 Net income 00

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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