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The management of Mecca Copy, a photocopying center located on University Avenue, has complled the following data to use in preparing its budgeted balance sheet
The management of Mecca Copy, a photocopying center located on University Avenue, has complled 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 $ 9,182 $ 2,600 $ 39,800 $ 15,00 $ 2,820 $ 5,Bee The beginning balance of retained earnings was $27,000, net income is budgeted to be $16.500, and dividends are budgeted to be $3,100 Required: Prepare the company's budgeted balance sheet. (Amounts to be deducted should be Indicated by a minus sign.) Mecca Copy Budgeted Balance Sheet Assets Currentes Total current as Plant and equipment: Plant and equipment, net Total assets Llabilities and Stockholders' Equity Current liabilities: Stockholders' equity: Total stockholders' equity Total liabilities and stockholders' equity
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