Even complicated and confusing topics will be easily developed and covered if you request our help writing an essay. Place an order today!

Pel Castro Corporation

The Pel Castro Corporation submitted the following financial statements for fiscal year, ended December 31, 2009. On the basis of the information contained in the statements and in the accompanying notes, prepare a projection for year 2010.

Balance Sheet (December 31, 2009)

Cash Php 62,400 Accounts receivable 520,000 Inventories 624,000 Total current assets Php1,206,400 Net fixed assets 852,800 Due from Officers 104,000


Income Statement for 2009

Net sales

Cost of goods manufactured and sold (36,000 units) Gross profit on sales

Selling expense

General and administrative expense Net profit on operations

Other deductions (net)

Net profit before tax


Net profit after tax

Bank notes payable Php 416,000 Accounts payable 166,400 Total current liabilitiesPhp 582,400


Capital stock Retained earnings Total Liabilities and Net Worth

208,000 1,040,000 332,800


Php 3,744,000

2,995,200 Php 748,800 374,400 Php 374,400 203,840 Php 170,560 4,160 Php 166,400 26,000 Php 140,400

Statement of Retained Earnings

Retained earnings at beginning of year Net profit for year


Less dividends paid

Retained earnings at end of year

Accompanying Notes:

Php 254,800 140,400 Php 395,200 62,400 Php 332,800

During the next 12 months, management anticipates the following:

testimonials icon
Traditional vs Online Learning Wiki This wiki assignment provides you with the opportunity to create an informational website comparing teaching me...
testimonials icon
S.M.A.R.T GoalsAfter reading the PDFs on Goal Setting and Professional Goals and Personalities in this week’s Reading, write your own S.M...
testimonials icon
HW questions with a hint to homework using Beer Lambert Law. Need by midnight Saturday...
testimonials icon
FIND A SOLUTION AT All A+ Essays Review...
testimonials icon
Focus of the Final PaperThink of an organization you have worked for or one with which you are very familiar.  Di...
testimonials icon
Running head: PHASES OF THE PROJECT LIFE CYCLEPhase of the Project Life CycleStudents NameInstitution Affiliation1PHASES OF THE PROJECT LIFE CYCLE2Th...
testimonials icon
Establishing an effective Information Technology Security Policy Framework is critical in the development of a comprehensive security program. Addi...
testimonials icon
BSN432 Community Health Nursing Module 1 Discussion Describe the role of the Community Health Nurse as it rel...

Other samples, services and questions:

Calculate Price

When you use PaperHelp, you save one valuable — TIME

You can spend it for more important things than paper writing.

Approx. price
Order a paper. Study better. Sleep tight. Calculate Price!
Created with Sketch.
Calculate Price
Approx. price