Author Question: Esther Baskets Company expects to manufacture and sell 20,000 baskets in 2016 for 5 each. There are ... (Read 164 times)

melina_rosy · **on:** Jul 5, 2018

Esther Baskets Company expects to manufacture and sell 20,000 baskets in 2016 for 5 each. There are 4,000 baskets in beginning finished goods inventory with target ending inventory of 5,000 baskets. The company keeps no work-in-process inventory.

What amount of sales revenue will be reported on the 2016 budgeted income statement?
A) 105,000
B) 100,000
C) 95,000
D) 55,000

Question 2

An account in the chart of accounts is assigned a number at random.
a. True
b. False
Indicate whether the statement is true or false