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Use the following information to prepare a budgeted balance sheet for Marine.com at March 31. Show computations for the cash and owners' equity amounts. (Click
Use the following information to prepare a budgeted balance sheet for Marine.com at March 31. Show computations for the cash and owners' equity amounts. (Click the icon to view the March operating information.) Begin by select the labels to complete the formula, and then compute the ending cash balance. + Beginning balance $ 13,200 Receipts 14,200 Payments for inventory, liabilities, and other expenses $ 20,000 Ending cash balance $ 7,400 + $ Next, select the labels to complete the formula, and then compute the ending owners' equity. Beginning balance + Sales revenue Ending owners' equity Cost of goods sold, depreciation, and other expenses March operating information a. March 31 inventory balance, $16,550 b. March payments for inventory, $5,900 c. March payments of accounts payable and accrued liabilities, $8,600 d. March 31 accounts payable balance, $3,500 e. February 28 furniture and fixtures balance, $35,000; accumulated depreciation balance, $29,840 f. February 28 owners' equity, $29,220 g. March depreciation expense, $400 h. Cost of goods sold, 60% of sales i. Other March expenses, including income tax, total $5,500; paid in cash j. February 28 cash balance, $13,200 k. March budgeted sales, $12,600 I. March 31 accounts receivable balance, one-fourth of March sales m. March cash receipts, $14,200 Print Done Choose from any list or enter any number in the input fields and then click Check
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