A-Design Inc., a federally incorporated company in Canada, specialized in the design and manufacturing of armrests for the wheelchair industry plans to produce and sell 15,000 armrests at $50 per unit in its third year of operation, to spend $20,000 for marketing campaigns, $100,000 for electricity consumption, $240,000 for salaries, $300,000 for production materials, $20,000 for overhead, $24,000 for rent and $10,000 for depreciation cost. A-Design has a debt of $100,000 at an annual simple interest rate of 5% and a 25% income tax rate. 3. As at December 31st, 2018, A-Design Inc. presented the following financial data: $320,000 in cash, $100,000 for inventory, $580,000 in equipment, $500,000 in bank loans, $300,000 in accounts payable and $100,000 in other liabilities. Produce a balance sheet for ADesign Inc. for the year 2018.
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.
A-Design Inc., a federally incorporated company in Canada,
specialized in the design and manufacturing of armrests for
the wheelchair industry plans to produce and sell 15,000
armrests at $50 per unit in its third year of operation, to
spend $20,000 for marketing campaigns, $100,000 for
electricity consumption, $240,000 for salaries, $300,000 for
production materials, $20,000 for overhead, $24,000 for rent
and $10,000 for
$100,000 at an annual simple interest rate of 5% and a 25%
income tax rate.
3. As at December 31st, 2018, A-Design Inc. presented the following
financial data: $320,000 in cash, $100,000 for inventory, $580,000 in
equipment, $500,000 in bank loans, $300,000 in accounts payable
and $100,000 in other liabilities. Produce a
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