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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 $ 8,800 Supplies inventory $ 5,300 Equipment $ 37,500 Accumulated depreciation $ 15,200 Accounts payable $ 2,500 Common stock $ 5,000 Retained earnings ?question mark The beginning balance of retained earnings was $35,000, budgeted net income is $19,900, and budgeted dividends are $2,900. Required: Prepare the companys budgeted balance sheet
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