Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. prepare a projected monthly departmental budget fo

Prepare a projected monthly departmental budget for the first 3 months of operation of the...

70.2K

Verified Solution

Question

Accounting

Prepare a projected monthly departmental budget for the first 3 months of operation of the mobile food truck. You will set up two (2) departments Food and Drinks - showing your projected revenue, cost of goods sold and expenses. In an attached schedule, calculations of how each months revenue was derived will be shown, along with calculations of depreciation of non-current assets and the method used to calculate depreciation. A schedule identifying the businesss fixed costs will also be prepared.

Create a Chart of Accounts and open T accounts for the projected revenues, purchases of materials and expenses. Balance the T Accounts at the end of the 3 months. 10 MARKS

Prepare a Projected Unadjusted Trial Balance as at December 31st 2021. 5 MARKS

Prepare any projected adjusting entries needed at the end of December 31st 2021

(including Depreciation and Ending Inventory) - 10 MARKS

Prepare a Projected Adjusted Trial Balance as at December 31st 2021. 5 MARKS

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Poutine Cheez Company has yearly sales of $550,000 and an average collection period of 35 days....

Advance Math
Q

Discuss your position on the following concerning Section 936 of the Internal Revenue Code: The 936...

Economics
Q

According to the CDC, more than half of all Americans consumed a supplement in 2012. Supplements...

Biology
Q

An unstretched spring is 30 cm long. When the spring is stretched to a total length of...

Physics
Q

Arrange these oligonucleotides according to the distance traveled in an electrophoretic separation Shortest distance traveled

Biology
Q

2 Use the Zero Product Property to identify the x intercepts Find the y intercept...

Geometry
Q

Which of the following are the missing steps to complete the equation when solving for...

Algebra
Q

Find the values of x sa t

Algebra
Q

Both questions please 6. The following account information is for Extra...

Accounting
Q

Andy Conaway opened Wonderland Photography on January 1 of the current year. During January, the...

Accounting
Q

During the risk assessment phase, the auditor makes a judgement on the industry in which...

Accounting
Q

Sami moved to Europe on August 15th, 2022, to open and incorporate a caf in...

Accounting