Answer Happy

. Question 2 (25 %) In the attached Excel-file you will find the original budgeted balance sheet for Q3, 2022, made back in December 2021, which concludes with a total balance sum of kr 19 571 100 per 31st August 2022. Here is some additional information about the various balance sheet items: • Inventory value: The opening balance consists of 5 800 barbeque grills. Accounts Receivable: The closing balance amounts to 1/3 of the total sales in Q3, 2022 • Accounts Payable: The closing balance amounts to 1/3 of the purchases of goods in Q3, 2022. Other payable costs are paid in the month they occur. • Payable holiday pay: The opening balance consists of kr 594 000 in holiday pay earned in 2021 to be paid in July 2022 as well as accrued holiday pay for the first six months of 2022, kr 321 000. Payable social security costs: The opening balance consists of an accrual for social security costs of kr 82 000 for May. This will be paid on 15th July 2022 together with the social security costs of kr 85 000 for June. The closing balance consists of the remaining social security costs for Q3, to be paid on 15th September 2022. Make a revised budgeted balance sheet for Q3, based on the information available, with new figures per 31 August 2022 for: • Company cars • Inventory Accounts Receivable Retained earnings Accounts Payable Payable holiday pay • Payable social security costs • Payable corporate tax For the balance of the bank deposit account per 31st August 2022 you should use the balance sheet equation. . . .
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