The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. The accounts have normal debit or credit balances. $ 39,100 66,500 21,500 80, 300 94,800 90,700 10,500 1,500 6,300 164, 200 99,900 128,700 325,600 35,200 Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expense Notes Payable (long-term) Office Expenses Rent Expense Retained Earnings Salaries and Wages Expense Sales Revenue Supplies
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.
Prepare the closing entry required at September 30, 2018.
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