Question 5. Please fill in the blanks the same format as the question so it's easy to input The Langley Batting Company manufactures wood baseball bats. Langley's two primary products are a youth bat, designed for children and young teens, and an adult bat, designed for high school and college-aged players. Langley sells the batsto sporting goods stores and all sales are on account. The youth bat sells for $40; the adult bat sells for $65. Langley's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Langley'sbalance sheet for December 31, 2018, and other data for the first quarter of 2019 follow:E (Click the icon to view the balance sheet.)A (Click the icon to view the other data.)Data TableRead the requirements.Requirement 1. Prepare Langley's sales budget for the first quarter of 2019.December 31, 2018AssetsLangley Batting CompanySales BudgetCurrent Assets:For the Quarter Ended March 31, 2019Cash$30,000YouthAdultAccounts Receivable16,700BatsBatsTotalRaw Materials Inventory6,000Budgeted bats to be soldFinished Goods Inventory21,300Sales price per unitTotal Current Assets74,000Property, Plant, and Equipment:Total salesEquipment130,000Enter any number in the edit fields and then click Check Answer.Less: Accumulated Depreciation(50,000)80,000?154,000Total Assets The Langley Batting Company manufactures wood baseball bats. Langley's two primary products are a youth bat, designed for children and young teens, and an adult bat, designed for high school and college-aged players. Langley sells the batsto sporting goods stores and all sales are on account. The youth bat sells for $40; the adult bat sells for $65. Langley's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Langley'sbalance sheet for December 31, 2018, and other data for the first quarter of 2019 follow:E (Click the icon to view the balance sheet.)A (Click the icon to view the other data.)Data TableRead the requirements.Property, Plant, and Equipment:Requirement 1. Prepare Langley's sales budget for the first quarter of 2019.Equipment130,000Langley Batting Company(50,000)80,000Less: Accumulated DepreciationSales Budget154,000For the Quarter Ended March 31, 2019Total AssetsYouthAdultLiabilitiesBatsBatsTotalCurrent Liabilities:Budgeted bats to be soldAccounts Payable$15,200Stockholders' EquitySales price per unitCommon Stock, no par$90,000Total salesRetained Earnings48,800Enter any number in the edit fields and then click Check Answer.Total Stockholders' Equity138,800(?$154,000Totel Liebilitio ond Steokcholdero! Eauity

ngley Batting Company manufactures wood baseball bats. Langley's two primary products are a youth b ting goods stores and all sales are on account. The youth bat sells for $40; the adult bat sells for $65. La e sheet for December 31, 2018, and other data for the first quarter of 2019 follow: lick the icon to view the balance sheet.) O (Click the icon to view the other data.) requirements. ement 1. Prepare Langley's sales budget for the first quarter of 2019. Langley Batting Company Sales Budget For the Quarter Ended March 31, 2019

ngley Batting Company manufactures wood baseball bats. Langley's two primary products are a youth b ting goods stores and all sales are on account. The youth bat sells for $40; the adult bat sells for $65. La e sheet for December 31, 2018, and other data for the first quarter of 2019 follow: lick the icon to view the balance sheet.) O (Click the icon to view the other data.) requirements. ement 1. Prepare Langley's sales budget for the first quarter of 2019. Langley Batting Company Sales Budget For the Quarter Ended March 31, 2019

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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