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
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 $ 9,600 $ 3,600 $ 41,500 Cash Accounts receivable Supplies inventory Equipment Accounts payable Accumulated depreciation $ 16,800 $ 3,300 $ 5,000 ? Common stock Retained earnings The beginning balance of retained earnings was $32,000, net income is budgeted to be $15,700, and dividends are budgeted to be $5,800. Required: Prepare the company's budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.) Current assets: Mecca Copy Budgeted Balance Sheet Assets Total current assets $ 0 Plant and equipment < Previ 9 of 9 Next
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