Chpt 8 Graded HW
5
Saved
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:
1
Ending
points
Balances
Cash
7
Accounts receivable
$ 8,100
Supplies inventory
$ 3,200
Equipment
$ 34,000
Accumulated depreciation
$ 16,000
eBook
Accounts payable
$ 1,800
Common stock
$ 5,000
Retained earnings
?
Hint
The beginning balance of retained earnings was $28,000, net income is budgeted to be $11,500, and dividends are budgeted to be
$4,800.
Print
References
Required:
Prepare the company's budgeted balance sheet.
Note: 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
