Prepare a budgeted balance sheet for Berkson, Inc. for December 31, 2019. (Hint: it may be helpful to determine the ending balance of each account) Berkson, Inc. has the following balance sheet at December 31, 2018: (Click the loon to view the balance sheet.) Berkson projects the following transactions for 2019: (Click the icon to view the transactions) cs 600 1,050 Begin by completing the accounting equation for the 2019 transactions. (Use a minus sign or parentheses to enter account reductions and contra asset balances and activity. If a box is not used in the equation leave the box emply do not enter a zero. Abbreviations used.) Cash + AIR + RM Iny. + FG Inv. + Equip + (AD) = AP + CS Dec 31, 2018 i Abbreviations i Data Table Sales on acct. Cash reopts. + + A/D Accumulated Depreciation Barkson, Inc. A/P Accounts Payable Purch. RMC Balance Sheet AR Accounts Receivable December 31, 2018 Pmts on acct. + + Cash recpils. Cash receipts from customers Assets Cast of Goods Sold RM used COGS Current Assets: Common Slock Direct labar + + + Cash $ 2,800 Depr. Depreciation on manufacturing equipment Mifg. OH Accounts Receivable 1,100 Equip Equipment Raw Materials Inventory Depr. FG Inv. Finished Goods Inventory Finished Goods Inventory COGS Mfg. OH Manufacturing Overhead Total Current Assets $ 5,550 Pmts on Payments on account S and A Property, Plant, and Equipment: acct. Equipment 8,000 Purch equip Purchase of equipment equip Less: Accumulated Dec 31, 2019 6.800 Purch, RM (1.200) Depreciation Purchase of raw materials on account Tatal Assets $ 12,350 Prepare a budgeted balance sheet for Borkoon, Inc. for December 31, 2019 Ratained Earnings Liabilities Berkson, Inc. RM Inv. Raw Materials Inventory Current Liabilities: Budgeted Balance Sheet RM used Raw materials used S and A Accounts Payable Seling and Administrative $ December 31, 2019 1,900 Sales on Stockholders' Equity Assets Sales an account acct. Common Stock, no par $ 8,000 Current Assets Retained Earnings 2.450 Print Done 10.450 Total Stockholders' Equity Total Liabilities and Stockholders' S 12.350 Equity Purch Total Current Assets Property Plant, and Equipment Print Done Total Assets Llabilities Current Liabilities: Stockholders' Equity Total Stockholders' Equity Total Liabilities and Stockholders' Equity Prepare a budgeted balance sheet for Berkson, Inc. for December 31, 2019. (Hint: it may be helpful to determine the ending balance of each account) Berkson, Inc. has the following balance sheet at December 31, 2018: (Click the loon to view the balance sheet.) Berkson projects the following transactions for 2019: (Click the icon to view the transactions) cs 600 1,050 Begin by completing the accounting equation for the 2019 transactions. (Use a minus sign or parentheses to enter account reductions and contra asset balances and activity. If a box is not used in the equation leave the box emply do not enter a zero. Abbreviations used.) Cash + AIR + RM Iny. + FG Inv. + Equip + (AD) = AP + CS Dec 31, 2018 i Abbreviations i Data Table Sales on acct. Cash reopts. + + A/D Accumulated Depreciation Barkson, Inc. A/P Accounts Payable Purch. RMC Balance Sheet AR Accounts Receivable December 31, 2018 Pmts on acct. + + Cash recpils. Cash receipts from customers Assets Cast of Goods Sold RM used COGS Current Assets: Common Slock Direct labar + + + Cash $ 2,800 Depr. Depreciation on manufacturing equipment Mifg. OH Accounts Receivable 1,100 Equip Equipment Raw Materials Inventory Depr. FG Inv. Finished Goods Inventory Finished Goods Inventory COGS Mfg. OH Manufacturing Overhead Total Current Assets $ 5,550 Pmts on Payments on account S and A Property, Plant, and Equipment: acct. Equipment 8,000 Purch equip Purchase of equipment equip Less: Accumulated Dec 31, 2019 6.800 Purch, RM (1.200) Depreciation Purchase of raw materials on account Tatal Assets $ 12,350 Prepare a budgeted balance sheet for Borkoon, Inc. for December 31, 2019 Ratained Earnings Liabilities Berkson, Inc. RM Inv. Raw Materials Inventory Current Liabilities: Budgeted Balance Sheet RM used Raw materials used S and A Accounts Payable Seling and Administrative $ December 31, 2019 1,900 Sales on Stockholders' Equity Assets Sales an account acct. Common Stock, no par $ 8,000 Current Assets Retained Earnings 2.450 Print Done 10.450 Total Stockholders' Equity Total Liabilities and Stockholders' S 12.350 Equity Purch Total Current Assets Property Plant, and Equipment Print Done Total Assets Llabilities Current Liabilities: Stockholders' Equity Total Stockholders' Equity Total Liabilities and Stockholders' Equity