Exercise 8-9 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: Ending Balances Cash Accounts receivable Supplies inventory Equipment Accumulated depreciation Accounts payable Common stock Retained earnings $ 8,200 $ 3,200 $ 34,500 $ 14,000 $ 1,900 $ 5,000 ? The beginning balance of retained earnings was $29,000, net income is budgeted to be $12,700, and dividends are budgeted to be $2,500. Required: Prepare the company's budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.) X Answer is complete but not entirely correct. Mecca Copy Budgeted Balance Sheet Assets Current assets: Cash $ 14,200 8,200 Accounts receivable -6.jpg Gambar Aldo.jpg $ Accounts receivable Supplies inventory 14,200 8,200 3,200 $ 25,600 34,500 7,000 X 41,500 $ 67,100 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 $ 1,900 $ 5,000 39,200 Total stockholders' equity Total liabilities and stockholders' enuity 44,200 $ 46 100 3946.jpg 20201023_235030.jpg 20201023_235042.jpg here to search