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Business
Accounting
Cash ? Accounts Recievable $8,100 Supplies Inventory $3,200 Equipment $34,000 Accumulated Depreciation $16,000 Accounts Payable $1,800 Common Stock $5,000 Retained Earnings? The beginning balance of retained earnings was $28,000, net income is budgeted to be $11,500, and dividends are budgeted to be $4,800. Prepare a properly titled and formatted balance sheet for FastCopy, Inc. Also, prepare a 2nd properly formatted balance sheet with net income budgeted to be $87,500 and dividends are budgeted to be $10,000

Cash ? Accounts Recievable $8,100 Supplies Inventory $3,200 Equipment $34,000 Accumulated Depreciation $16,000 Accounts Payable $1,800 Common Stock $5,000 Retained Earnings? The beginning balance of retained earnings was $28,000, net income is budgeted to be $11,500, and dividends are budgeted to be $4,800. Prepare a properly titled and formatted balance sheet for FastCopy, Inc. Also, prepare a 2nd properly formatted balance sheet with net income budgeted to be $87,500 and dividends are budgeted to be $10,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Cash ? Accounts Recievable $8,100 Supplies Inventory $3,200 Equipment $34,000 Accumulated Depreciation $16,000 Accounts Payable $1,800 Common Stock $5,000 Retained Earnings? The beginning balance of retained earnings was $28,000, net income is budgeted to be $11,500, and dividends are budgeted to be $4,800. Prepare a properly titled and formatted balance sheet for FastCopy, Inc. Also, prepare a 2nd properly formatted balance sheet with net income budgeted to be $87,500 and dividends are budgeted to be $10,000
Transcribed Image Text:Cash ? Accounts Recievable $8,100 Supplies Inventory $3,200 Equipment $34,000 Accumulated Depreciation $16,000 Accounts Payable $1,800 Common Stock $5,000 Retained Earnings? The beginning balance of retained earnings was $28,000, net income is budgeted to be $11,500, and dividends are budgeted to be $4,800. Prepare a properly titled and formatted balance sheet for FastCopy, Inc. Also, prepare a 2nd properly formatted balance sheet with net income budgeted to be $87,500 and dividends are budgeted to be $10,000
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