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Fill-in-the Blanks: Budgeted Balance Sheet Footsies Company sells its luxury, comfort slippers worldwide. Answer the following questions regarding preparation of their budgeted balance sheet. Data:
Fill-in-the Blanks: Budgeted Balance Sheet Footsies Company sells its luxury, comfort slippers worldwide. Answer the following questions regarding preparation of their budgeted balance sheet. Data: Pertinent balances from the prior December 31st balance sheet are as follows: Buildings and equipment Accumulated depreciation $108,000 38,000 Common stock Retained earnings $123,000 273,228 The budgeted income statement shows net income after taxes (NIAT) of $153,429. The product cost per unit is $45.00 and the sales price is $95. The company expects to sell equipment with a cost of $8,000 during January 2023. No purchases are planned for the period. The cash budget shows expected dividend payments of $5,000 in January. The production budget shows total units to be produced of 8,200 and a desired ending inventory or 1,400 for January. Depreciation expense for January is budgeted at $6,000. The accumulated depreciation on the equipment sold in January is $2,000. Questions: What are the amounts that will appear on the company's Budgeted Balance Sheet at January 31, 2023 for: 1.) Buildings and Equipment $1 2.) Retained Earnings $ 3.) Inventory $ 4.) Common Stock $. 5.) Accumulated Depreciation $
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