Minden Company is a wholesale distributor of premium European chocolates
Minden Company is a wholesale distributor of premium European chocolates. It buys and sells the chocolate per box. The company’s balance sheet as of April 30 is given below: Minden Company Balance Sheet March 31 (in Bhd) Assets Cash 9,000 Accounts receivable 54,000 Inventory 0 Buildings and equipment, net of depreciation 207,000 Total assets 270,000 Liabilities and Stockholders’ Equity Accounts payable 63,000 Note payable 14,500 Common stock 180,000 Retained earnings 12,500 Total liabilities and stockholders’ equity 270,000 The company is in the process of preparing a budget for April to June and has assembled the following data. Based on historical data, selling price per box is Bhd110. The premium European chocolates cost per box is Bhd100 and monthly…
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