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Just need help finding the cash amount, I keep getting $13800 as the answer but it says its incorrect value: 10.00 points The management of
Just need help finding the cash amount, I keep getting $13800 as the answer but it says its incorrect
value: 10.00 points 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 8,700 Accounts receivable 5,100 Supplies inventory 37,000 Equipment 15,000 Accumulated depreciation 2,400 Accounts payable Common stock 5,000 Retained earnings The beginning balance of retained earnings was $34,000, net income is budgeted to be $18,700, and dividends are budgeted to be $5,200. Required Prepare the company's budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.)
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