Given the following projected information for Lacey Inc. for 2011, prepare a pro-forma balance sheet and income statement.
Definitions:
Company's Records
Company's records comprise all documents, books, papers, and financial statements that depict the business transactions and financial status of a company.
Credit Memo
A document issued by a seller to a buyer, reducing the amount that the buyer owes to the seller under the terms of an existing invoice.
Bank Service Charges
Fees charged by banks for account services, transactions, and maintenance.
Credit Balances
The amounts that appear on the right side of a company's balance sheet accounts, typically indicating that a company has liabilities or has received payments in advance.
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