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Dorah, the sole stockholder of Marshall Inc., runs a home-cleaning service in the suburb of a large city. Her balance sheet as at September 30,2019
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Dorah, the sole stockholder of Marshall Inc., runs a home-cleaning service in the suburb of a large city. Her balance sheet as at September 30,2019 is as follows: In the upcoming year, Dorah expects the following events to occur: - Total revenues of $22,000 and total expenses of $16,780 - 100% of accounts receivable from the prior year will be collected in the following year - Credit sales will represent 44% of revenues for the year - 100% of accounts payable owing from 2019 will be paid off in 2020 - By the end of September, 2020, Marshall will owe its suppliers $3,100 - No principal payments will be made on the bank loan during 2019 - Purchase of new equipment for $2,900. The entire purchase will be financed through a bank loan - Expect to have a cash balance of $20,200 at the end of fiscal 2020 - Depreciate assets by $560 during 2020 Do not enter dollar signs or commas in the input boxes. Use the negative sign for negative values. \begin{tabular}{|l|l|} \hline \multicolumn{3}{|c|}{\begin{tabular}{c} Marshall Inc. \\ Budgeted Balance Sheet \\ As at September 30, 2020 \end{tabular}} \\ \hline Assets & $20200 \\ \hline Cash & $9680 \\ \hline Accounts Receivable & $11400 \\ \hline Equipment & $1660 \\ \hline Accumulated Depreciation & $39620 \\ \hline Total Assets & \\ \hline \hline Liabilities & $3000 \\ \hline Accounts Payable & $16100 \\ \hline Notes Payable & $19100 \\ \hline Total Liabilities & $20420 \\ \hline Stockholder's Equity & \\ \hline Total Liabilities \& Stockholder's Equity & $39520 \\ \hline \end{tabular} Check
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