Answered step by step
Verified Expert Solution
Question
1 Approved Answer
i just need the values in the right two collumns Exercise 8-9 (Algo) Budgeted Balance Sheet (L08-10) The management of Mecca Copy, a photocopying center
i just need the values in the right two collumns
Exercise 8-9 (Algo) Budgeted Balance Sheet (L08-10) 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 Dalances 7 $ 8.800 $ 5,300 $ 37,500 15,200 $ 2,500 $5,000 > The beginning balance of retained earnings was $35,000, net income is budgeted to be $19,900, and dividends are budgeted to be $2,900 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 8,800 5,300 $ 20,200 37,500 37,500 57,700 $ 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 liabilities and stockholders' equity $ $ 0 Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started