education.com/ext/map/index.html?_con=con&external_browser=0&launchUnt=https%253A%252F%252Fmarshall-bb.blackboard.com%252Fwebapps%25 Saved Exercise 8-9 (Algo) 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: Cash Accounts receivable Supplies inventory Equipment Accumulated depreciation Accounts payable Common stock Retained earnings Ending Balances ? $ 9,300 $ 3,000 $ 40,000 $ 16,200 $ 3,000 $ 5,000 The beginning balance of retained earnings was $29,000, net income is budgeted to be $19,000, and dividends are budgeted to be $5,600 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 Cash Accounts receivable Supplies inventory 9,300 3,000 $ 12,300 Total current assets Plant and equipment Equipment Accumulated depreciation Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current Ilahi 0 12,300 $ The beginning balance of retained earnings was $29,000, net income is budgeted to be $19,000, and dividends are budge $5,600 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 Cash Accounts receivable Supplies inventory 9,300 3,000 $ 12,300 0 12,300 $ Total current assets Plant and equipment Equipment Accumulated depreciation Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 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. Cash Accounts receivable Supplies inventory Equipment Accumulated depreciation Accounts payable Common stock Retained earnings Ending Balances ? $ 9,300 $ 3.000 $ 40,000 $ 16,200 $ 3,000 $ 5,000 The beginning balance of retained earnings was $29,000, net income is budgeted to be $19,000, and dividends are budgeted to be $5,600. 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: Cash Accounts receivable Supplies inventory 9.300 3,000 $ 12,300 Total current assets Plant and equipment: Equipment Accumulated depreciation Plant and equipment, net Total assets Llabilities and Stockholders' Equity Current liabilities Accounts payable Stockholders' equity $ 12 300 Nayt Saved The beginning balance of retained earnings was $29,000, net income is budgeted to be $19,000, and dividends are budgeted to b $5,600 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 Cash Accounts receivable Supplies inventory 9,300 3,000 $ 12.300 0 12,300 5 Total current assets Plant and equipment Equipment Accumulated depreciation Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Stockholders' equity Common stock Retained earnings 0 Total stockholders' equity Total Habilities and stockholders' equity $ 0
