Additional Information

Beginning Inventory - bushels

2009 Wheat production 210,000.00 bushels
Shipped to grain elevator 180,000.00 bushels
Grain Stored at Farm at end of 2009 30,000.00 bushels

Expenses for 2009

A: Production Cost per Bushel
Seed 0.053
Fertilizer and Chemical 0.295
Machinary Cost, fuels and repairs 0.107
part time labour and other costs 0.058
Total production cost per bushel 0.513

B. Annual Cost not related to the vol

Salaries and Wages 72,500.00
Insurance 4,500.00
Taxes 32,500.00
Depreciation 28,500.00 Openings
Other Expenses 45,000.00 -
Total Cost not related to production volume 183,000.00 -
-
Avg price per Bushel of wheat shipped to the grain 2.90 375,000.00
price per bushel at the time of harvest 2.80 141,000.00
closing price per bushel at dec 31 3.07 516,000.00

1 Vendor yet to pay 20,000.00

Rate of payment 2.98 457,500.00
25,500.00

33,000.00

516,000.00
https://www.slideshare.net/gauravanirbandutta/anthony-im-05
 Delivery Method/Sales Method Collection Method
180,000.00 160,000.00
Gross Revenue 522,000.00 Gross Revenue 462,400.00
Cost of Seed (9,540.00) Cost of Seed (8,480.00) Since the revenue of 20000
Fertilizer (53,100.00) Fertilizer (47,200.00) bushels has not been received
yet,revenue recognised for
Machinery,Fuel (19,260.00) Machinery,Fuel (17,120.00) 160000 bushels.
Part-time labor (10,440.00) Part-time labor (9,280.00)
Salaries (72,500.00) Salaries (72,500.00)
Insurance (4,500.00) Insurance (4,500.00)
Depriciation (28,500.00) Depriciation (28,500.00)
Other expense (45,000.00) Other expense (45,000.00)

Operating Profit 279,160.00 Operating Profit 229,820.00

Tax (32,500.00) Tax (32,500.00)
Net Income 246,660.00 Net Income 197,320.00
dividends (169,270.00) (169,270.00)
total retained earnings 77,390.00 28,050.00
Balance Sheet Balance Sheet
Asset Asset
Cash 30,900.00 Cash 30,900.00
Receivable 59,600.00 Receivable -
Inventory 15,390.00 Inventory 25,650.00
Land 375,000.00 Land 375,000.00
Building and machinary net 112,500.00 Building and machin 112,500.00
Total Assets 593,390.00 Total Assets 544,050.00

Equity+Liability Equity+Liability

Owners Equity 457,500.00 Owners Equity 457,500.00

Retained Earnings 102,890.00 Retained Earnings 53,550.00

Current Liability 33,000.00 Current Liability 33,000.00

Total Equity+Liability 593,390.00 Total Equity+Liabilit 544,050.00

 Production Method
210,000.00
Gross Revenue 614,100.00 180000*2.9+30000*3.07
ince the revenue of 20000 Cost of Seed (11,130.00)
shels has not been received Fertilizer (61,950.00) Since Revenue is recognised
et,revenue recognised for as soon as harvesting
160000 bushels. Machinery,Fuel (22,470.00) done,price will be 2.8
Part-time labor (12,180.00)
Salaries (72,500.00)
Insurance (4,500.00)
Depriciation (28,500.00)
Other expense (45,000.00)

Operating Profit 355,870.00

Tax (32,500.00)
Net Income 323,370.00
(169,270.00)
154,100.00
Balance Sheet
Asset collection
Cash 30,900.00 cost of production
Receivable 151,700.00 opex
Inventory - dividends
Land 375,000.00
Building and machin 112,500.00 net cash
Total Assets 670,100.00

Equity+Liability

Owners Equity 457,500.00

Retained Earnings 179,600.00

Current Liability 33,000.00

Total Equity+Liabilit 670,100.00

 qnty
210,000.00
180,000.00
20,000.00
Drawings by Owner 30,000.00

Sales Method Collection Method Production Method

Net Income 246,660.00 197,320.00 323,370.00
RE 102,890.00 53,550.00 179,600.00
Drawings 143,770.00 143,770.00 143,770.00

Cashflow Statement
462,400.00
(107,730.00)
(154,500.00) excluding depreciation
169,270.00

30,900.00
rates
2.80 588,000.00
2.90 18,000.00
2.98 3,600.00
3.07 8,100.00
617,700.00