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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 sheet
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 Balancen Cash 2 Accounts receivable 9,800 Supplies inventory $ 4,000 Equipment $ 42,500 Accumulated depreciation $ 17,200 Accounts payable $ 3.500 Common stock $ 5,000 Retained earnings 2 The beginning balance of retained earnings was $34.000, net income is budgeted to be $18,100, and dividends 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.) Mecca Copy Budgeted Balance Sheet Assets Current assets $ 0 Total current assets Plant and equipment: Plant and equipment, not 0 Prev SH 5 of 6 Next > Mecca Copy Budgeted Balance Sheet Assets Current assets: $ 0 Total current assets Plant and equipment 0 $ 0 Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities: Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity 0 0 $
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