The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the following data
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Question:
The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the following data to use in preparing its budgeted balance sheet for 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 $
Required:
Prepare the companys budgeted balance sheet. Amounts to be deducted should be indicated by a minus sign.
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