Question

Can you help me with the budgeted balance sheet? I have completed everything except for that. I don't know what the Bank Loan Payable would be.
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2019. ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2019 Assets Cash Accounts receivable Raw materials inventory Finished goods inventory Total current assets Equipment Accumulated depreciation Equipment, net Total assets Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities Long-term note payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and equity $ 42,000 364,000 107,200 349,440 862,640 604,000 (152,000) 452,000 $ 1,314,640 $ 211,300 14,000 225,300 510,000 735,300 337,000 242,340 579,340 $ 1,314,640

Answer 1

Balance Sheet
Assets
Cash	42,000
Accounts Receivable	365,750
Raw Material Inventory	84,000
Finished Goods Inventory	349,440
Total Current Assets	841,190
Equipment	736,000
Accumulated Depreciation	(215,300)
Equipment, Net	520,700
Total Assets	1,361,890
Liabilities and Equity
Accounts Payable	188,100
Bank Loan Payable	32,300
Income tax Payable	25,660
Total Current Liabilities	246,060
Long Term Note Payable	510,000
Total Liabilities	756,060
Common Stock	337,000
Retained Earnings	268,830
Total Stockholder's Equity	605,830
Total Liability and Equity	1,361,890	-