Budgeted Balance Sheet Assignment
Exercise 8-9 Budgeted Balance Sheet [LO8-10) The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the following data to use in preparing its budgeted balance sheet for next year: Ending Balances Cash Accounts receivable Supplies inventory Equipment Accumulated depreciation Accounts payable Common stock Retained earnings $ 8.900 $ 5,5ee $ 38,888 $ 15,400 $ 2,600 $ 5,000 nces The beginning balance of retained earnings was $25,000, net income is budgeted to be $21,100, and dividends are budgeted to be $3,500
Required: Prepare the company's budgeted balance sheet (Amounts to be deducted should be indicated by a minus sign.) < Prev 7 of 7 ! Next > e to search De Check Required: Prepare the company's budgeted balance sheet (Amounts to be deducted should be indicated by a minus sign.) Mecca Copy Budgeted Balance Sheet Assets Current assets: look rences Total current assets Plant and equipment: Plant and equipment, net Total assets < Prev 7 of 7 8 Next > De here to search Pian and equipment: Check my w Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities: Stockholders' equity: Total stockholders' equity Total liabilities and stockholders' equity.