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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 ? Common stock Cash Accounts receivable Supplies inventory Equipment Accounts payable Retained earnings $ 9,400 $ 3,200 $ 40,500 Accumulated depreciation S 16,400 $ 3,100 $ 5,000 7 The beginning balance of retained earnings was $30,000, net income is budgeted to be $20,200, and dividends are budgeted to be $3,300. Required: Prepare the company's budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.) Current assels: Total current assets Plant and equipment: Plant and equipment, net Total assets Mecca Copy Budgeted Balance Sheet Assets
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