Homework answers / question archive / The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the following data to use i preparing its budgeted balance sheet for next year: Cash Accounts receivable Supplies inventory Equipment Accumulated depreciation Accounts payable Common stock Retained earnings Ending Balances ? $ 8,900 $ 5,500 $ 38,000 $ 15,400 $ 2,600 $ 5,000 ? The beginning balance of retained earnings was $25,000, net income is budgeted to be $21,100, and dividends are budgeted to $3,500

The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the following data to use i preparing its budgeted balance sheet for next year: Cash Accounts receivable Supplies inventory Equipment Accumulated depreciation Accounts payable Common stock Retained earnings Ending Balances ? $ 8,900 $ 5,500 $ 38,000 $ 15,400 $ 2,600 $ 5,000 ? The beginning balance of retained earnings was $25,000, net income is budgeted to be $21,100, and dividends are budgeted to $3,500

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The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the following data to use i preparing its budgeted balance sheet for next year: Cash Accounts receivable Supplies inventory Equipment Accumulated depreciation Accounts payable Common stock Retained earnings Ending Balances ? $ 8,900 $ 5,500 $ 38,000 $ 15,400 $ 2,600 $ 5,000 ? The beginning balance of retained earnings was $25,000, net income is budgeted to be $21,100, and dividends are budgeted to $3,500. 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: Total current assets Plant and equipment: Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities: Stockholders' equity: Total stockholders' equity Total liabilities and stockholders' equity