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only need total budgeted assets

only need total budgeted assets

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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only need total budgeted assets

These budgeted financial statement items are for Snyder Corporation at year-end, July 31, 2022. Salaries and wages payable $ 2,580 Salaries and wages expense 50,700 Utilities expense 22,600 21,000 Equipment Accounts payable 4,100 62,100 8,500 Service revenue Rent revenue Notes payable (due 2024) 1,800 Common stock 16,000 Cash 20,200 Accounts receivable 12,780 Accumulated depreciation-equipment 6,000 Dividends 5,000 Depreciation expense 4,000 Retained earnings (beginning of the year) 35,200 Instructions: Prepare a classified balance sheet at July 31, 2021. What are total budgeted assets?
Transcribed Image Text:These budgeted financial statement items are for Snyder Corporation at year-end, July 31, 2022. Salaries and wages payable $ 2,580 Salaries and wages expense 50,700 Utilities expense 22,600 21,000 Equipment Accounts payable 4,100 62,100 8,500 Service revenue Rent revenue Notes payable (due 2024) 1,800 Common stock 16,000 Cash 20,200 Accounts receivable 12,780 Accumulated depreciation-equipment 6,000 Dividends 5,000 Depreciation expense 4,000 Retained earnings (beginning of the year) 35,200 Instructions: Prepare a classified balance sheet at July 31, 2021. What are total budgeted assets?
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