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2. The purchase will be made using $50,000 cash and long-term
debt will be increased by $25,000
Long-Term Debt information:
1. All long-term debt will have an 8% annual rate.
2. A payment of $50,000 including BOTH principle and interest
will be made on December 31st.
Required: Prepare a cost of goods manufactured schedule, a
proforma income statement and proforma balance sheet.
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ACCT 556 Week 7 Course Project (Fanciful Inc)
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ACCT 556 Week 7 Course Project
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ACCT 556 Week 7 Course Project Fantastic Inc
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ACCT 556 Week 7 Course Project Fantastic Inc
Fantastic, Inc. is a case study which allows you to incorporate
numerous financial and managerial accounting concepts into a
single business setting. You will take the position of the company
controller who will prepare the budget for the year ended December
31, 2006, using the actual data from 2001 through 2005 and
information given to you by various departments. You will prepare a
report for the president of the company describing the strengths and