Exercise 8-9 (Algo) Budgeted Balance Sheet (LO8-10) The management of Mecca Copy, a photocopying center...
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Accounting
Exercise 8-9 (Algo) Budgeted Balance Sheet (LO8-10) 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: Cash Accounts receivable Supplies inventory Equipment Accumulated depreciation Accounts payable Common stock Retained earnings Ending Balances ? $ 9,800 $ 4,000 $ 42,500 $ 17,200 $ 3,500 $ 5,eee ? rces 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: Mecca Copy Budgeted Balance Sheet Assets Current assets: k t Total current assets Plant and equipment: ces Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities: Liabilities and Stockholders' Equity Current liabilities: Stockholders' equity: ok ht nt ences Total stockholders' equity Total liabilities and stockholders' equity
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