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Following is the budgeted balance sheet of Hampton Freeze Inc. Some of the data on the budgeted balance sheet have b
2008 which appears below the budgeted balance sheet for 2009.

                                                                   Hampton Freeze Inc.
                                                                  Budgeted Balance Sheet
                                                                    December 31, 2009
                                                                         Assets
Current assets:                                                           0                    1
Cash                                                1                $42,500              $40,000
Accounts receivable                                 2                 90,000               60,000
Raw materials inventory                             3                  4,200                9,600
Finished goods inventory                            4                 26,000               78,000
                                                                    -------------        -------------
Total current assets                                                $162,700             $187,600
Plant and equipment:
Land                                                5                 $80,000              $80,000
Building and equipment                              6                 700,000              750,000
Accumulated depreciation                            7                -292,000             -317,000
                                                                    -------------        -------------
Plant and equipment, net                                            $488,000             $513,000
                                                                    -------------        -------------
Total assets                                                        $650,700             $700,600

                                                           Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable (raw materials)                    8                $25,800              $23,700
Loans payable                                                                            $120,000
Interest payable                                                                           $3,000
                                                                    -------------        -------------
Total current assets                                                 $25,800             $146,700


Stockholders' equity:
Common stock, no par                                 9               $175,000              175,000
Retained earnings                                   10                449,900              378,900
                                                                    --------------       --------------
Total stock holders' equity                                           624,900              553,900
                                                                    --------------       --------------
Total liabilities and stockholders equity                           $650,700             $700,600
                                                                     =======              =======
                                            diferencia => Cash                            -$40,000
                                                     diferencia                      -                    -

Explanation of December 31, 2009, budgeted balance sheet figures:

1. The ending cash balance, as projected by the cash budget on cash budget page.

2. Thirty percent of fourth quarter sales, from sales budget ($400,000 × 30% = $120,000)
3. From direct materials budget, ending raw materials inventory will be 22,500 pounds. This material costs $0.20 per poun
$0.20 = $4,500.
4. From ending finished goods inventory budget.
5. From December 2008 balance sheet (no change).
6. The December 2008 balance sheet indicated a balance of $700,000. During 2009, $130,000 of additional equipment wi
balance to $830,000.

7. The December 31, 2008 balance sheet indicated a balance of $292,000. During 2009, $100,000 depreciation will be tak
and administrative expense budget), bringing the December 2009, balance to $392,000.
8. One half of the fourth quarter raw materials purchase, from direct materials budget.
9. From the December 2008 balance sheet (no change).

                                          December 31,
                   10                     2008, balance                              $449,900
                                          Add net income,
                                          from budgeted
                                          income statement                            112,700
                                                                                       -------
                                                                                      562,600
                                          Deduct dividend
                                          paid from cash
                                          budget                                      32,000
                                                                                       -------
                                          December 31,
                                          2009, balance                              $530,600
                                                                                      ======
the budgeted balance sheet have been taken from the company's previous end-of-year balance sheet for


nc.
Sheet
09

                    2                    3                    4
               $40,000              $40,500              $52,000              $52,000
               180,000              240,000              120,000              120,000
                10,800                5,700                4,500                4,500
               104,000               52,000               39,000               39,000
              -------------        -------------        -------------        -------------
              $334,800             $338,200             $215,500             $215,500

                $80,000              $80,000              $80,000              $80,000
                790,000              810,000              830,000              830,000
               -342,000             -367,000             -392,000             -392,000
              -------------        -------------        -------------        -------------
              $528,000             $523,000             $518,000             $518,000
              -------------        -------------        -------------        -------------
              $862,800             $861,200             $733,500             $733,500

ers' Equity

               $48,600              $51,450              $27,900              $27,900
              $180,000              $80,000                  $0
                $7,500               $2,000                  $0
              -------------        -------------        -------------        -------------
              $236,100             $133,450              $27,900              $27,900



                175,000              175,000              175,000              175,000
                451,700              552,750              530,600              530,600
              --------------       --------------       --------------       --------------
                626,700              727,750              705,600              705,600
              --------------       --------------       --------------       --------------
              $862,800             $861,200             $733,500             $733,500
               =======              =======              =======              =======
               -$40,000             -$40,500             -$52,000             -$52,000
                               -                    -                    -                    -




00)
 This material costs $0.20 per pound. Therefore, the ending inventory in dollars will be 22,500 pounds ×




$130,000 of additional equipment will be purchased (see cash budget), bringing the December 31, 2009,


09, $100,000 depreciation will be taken ($60,000 from manufacturing overhead budget, and $40,000 selling
 0.




                                                        ver SE
                                                   Hampton Freeze Inc.
                                             Statement of Stockholders´ Equity
                                                      Retained         Total Stockholders´
          1ª Quarter, 2009      Common stock
                                                      earnings                Equity
Beginning balance                  175,000             449,900              624,900
Dividend payment                                        -8,000               -8,000
Income before taxes                                    -63,000              -63,000
        1ª / 2ª Quarter, 2009     --------------      --------------       --------------

Ending/Beginning balance           175,000             378,900              553,900
Dividend payment                                        -8,000
Income before taxes                                    80,800
        2ª / 3ª Quarter, 2009     --------------      --------------       --------------
Ending/Beginning balance           175,000             451,700              553,900
Dividend payment                                        -8,000
Income before taxes                                    109,050
        3ª / 4ª Quarter, 2009     --------------      --------------       --------------
Ending/Beginning balance           175,000             552,750              553,900
Dividend payment                                        -8,000
Income before taxes                                    -14,150
          4ª Quarter, 2009        --------------      --------------       --------------
Ending/Beginning balance           175,000             530,600              553,900

				
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