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The Management of FastCopy Inc, a Photocopying center located on Mary Ave, in Jacksonville FL , Completed the following data for use in preparing its
The Management of FastCopy Inc, a Photocopying center located on Mary Ave, in Jacksonville FL Completed the following data for use in preparing its budgeted balance sheet for the next year:
Ending Balances:
Cash
Accounts Receivable $
Supplies Inventory $
Equipment $
Accumulated Depreciation $
Accounts Payable $
Common Stock $
Retained Earnings
The beginning balance of retained earnings was $ net income is budgeted to be $ and dividends are budgeted to be $
Prepare a properly titled and formatted balance sheet for FastCopy, Inc. Grading will be applied to proper formatting and accuracy of results.
Also, prepare a nd properly formatted balance sheet with net income budgeted to be $ and dividends are budgeted to be $ Consider the second balance sheet you created and provide an explanation of the likely other balance accounts that would change increasedecreaseremain the same in response to such a significant increase in net income. A properly formatted balance sheet would include the proper heading and the Assets Liabilities Shareholders Equity appearing in the proper columns with column totals that equal as per the accounting equation: Assets Liabilities and Shareholder Equity.
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