Mecca Copy, a photocopying center located on University Avenue, provided the following data to prepare a budgeted balance sheet for next year. Cash Accounts receivable Supplies inventory Equipment Accumulated depreciation Accounts payable Common stock Retained earnings Ending Balances ? $ 8,100 $ 3,200 $ 34,000 $ 16,000 $ 1,800 $ 5,000 ? The beginning balance of retained earnings was $28,000, budgeted net income is $11,500, and budgeted dividends are $4,800. Required: Prepare the company's budgeted balance sheet. Note: Amounts to be deducted should be indicated by a minus sign. Месса Сору Budgeted Balance Sheet Assets Current assets: Total current assets Plant and equipment: Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities: Stockholders' equity. Total stockholders' equity $ 0 0 $ 0 0 Total liabilities and stockholders' equity $ 0
Mecca Copy, a photocopying center located on University Avenue, provided the following data to prepare a budgeted balance sheet for next year. Cash Accounts receivable Supplies inventory Equipment Accumulated depreciation Accounts payable Common stock Retained earnings Ending Balances ? $ 8,100 $ 3,200 $ 34,000 $ 16,000 $ 1,800 $ 5,000 ? The beginning balance of retained earnings was $28,000, budgeted net income is $11,500, and budgeted dividends are $4,800. Required: Prepare the company's budgeted balance sheet. Note: Amounts to be deducted should be indicated by a minus sign. Месса Сору Budgeted Balance Sheet Assets Current assets: Total current assets Plant and equipment: Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities: Stockholders' equity. Total stockholders' equity $ 0 0 $ 0 0 Total liabilities and stockholders' equity $ 0
Chapter7: Budgeting
Section: Chapter Questions
Problem 6PB: Relevant data from the operating budget of The Framers are: Other data: Capital assets were sold in...
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Question
![Mecca Copy, a photocopying center located on University Avenue, provided the following data to prepare a budgeted balance sheet
for next year.
Cash
Accounts receivable
Supplies inventory
Equipment
Accumulated depreciation
Accounts payable
Common stock
Retained earnings
Ending
Balances
?
$ 8,100
$ 3,200
$ 34,000
$ 16,000
$
1,800
$ 5,000
?
The beginning balance of retained earnings was $28,000, budgeted net income is $11,500, and budgeted dividends are $4,800.
Required:
Prepare the company's budgeted balance sheet.
Note: Amounts to be deducted should be indicated by a minus sign.
Месса Сору
Budgeted Balance Sheet
Assets
Current assets:
Total current assets
Plant and equipment:
Plant and equipment, net
Total assets
Liabilities and Stockholders' Equity
Current liabilities:
Stockholders' equity.
Total stockholders' equity
$
0
0
$
0
0
Total liabilities and stockholders' equity
$
0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F24dc6e98-c8af-4d8b-8b32-07d76b901d13%2Fdc53912a-5373-43d0-88c3-353531df11ee%2Frgfr90c_processed.png&w=3840&q=75)
Transcribed Image Text:Mecca Copy, a photocopying center located on University Avenue, provided the following data to prepare a budgeted balance sheet
for next year.
Cash
Accounts receivable
Supplies inventory
Equipment
Accumulated depreciation
Accounts payable
Common stock
Retained earnings
Ending
Balances
?
$ 8,100
$ 3,200
$ 34,000
$ 16,000
$
1,800
$ 5,000
?
The beginning balance of retained earnings was $28,000, budgeted net income is $11,500, and budgeted dividends are $4,800.
Required:
Prepare the company's budgeted balance sheet.
Note: Amounts to be deducted should be indicated by a minus sign.
Месса Сору
Budgeted Balance Sheet
Assets
Current assets:
Total current assets
Plant and equipment:
Plant and equipment, net
Total assets
Liabilities and Stockholders' Equity
Current liabilities:
Stockholders' equity.
Total stockholders' equity
$
0
0
$
0
0
Total liabilities and stockholders' equity
$
0
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