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The management of Mecca Copy. a photocopying center located on Unlversity Avenue, has complled the following data to use In preparing Its budgeted balance sheet
The management of Mecca Copy. a photocopying center located on Unlversity Avenue, has complled the following data to use In preparing Its budgeted balance sheet for next year Ending Cash Accounts receivable Supplies inventory Equipment Accumulated depreciation Accounts payable Conmon stock Retained earnings $ 9,888 $ 4,888 $ 42,588 $ 17,288 $ 3,588 $ 5,888 The beginning balance of retalned earnings was $34.000, net Income Is budgeted to be $18,100, and divMdends are budgeted to be $4.100. Required: Prepare the company's budgeted balance sheet. (Amounts to be deducted should be Indicated by a minus sign.) Balance Sheet Assets Current assets Total current assets Plant and equipment Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities Stockholders' equity. Total stockholders' equity Total liabilities and stockholders' equity
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