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Mecca Copy, a photocopying center located on University Avenue, provided the following data to prepare a budgeted balance sheet for next year: Ending Balances Cash
Mecca Copy, a photocopying center located on University Avenue, provided the following data to prepare a budgeted balance sheet for next year: Ending Balances Cash ?question mark Accounts receivable $ 9,600 Supplies inventory $ 3,600 Equipment $ 41,500 Accumulated depreciation $ 16,800 Accounts payable $ 3,300 Common stock $ 5,000 Retained earnings ?question mark The beginning balance of retained earnings was $32,000, budgeted net income is $15,700, and budgeted dividends are $5,800. Required: Prepare the companys budgeted balance sheet. Note: Amounts to be deducted should be indicated by a minus sign
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