Beta Limited has asked you, the management accountant, to prepare an annual
master budget for the year ending 31 December 2013.
Beta produces a product called Treen, presently sold only in the North Island of
New Zealand. The production process involves the input of two components of
materials – Wood and Stain.
After comprehensive consultation, you are provided with the following
information to prepare the master budget.
1Projected Balance Sheet as at 31 December 2012
Cash at Bank15,000
Finished goods: Treen19,42521,73546,735
Plant and Machinery500,000
less accumulated depreciation (SL)10%100,000400,000
Short term Loan repayable on 31 March 20135,00012,000
Paid up Capital250,000
Total Liabilities and Equity$446,735
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