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Exercise 8-9 Budgeted Balance Sheet [LO8-10] The management of Mecca Copy, a photocopying center located...

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Exercise 8-9 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: Ending Balances Cash Accounts receivable Supplies inventory Equipment Accumulated depreciation Accounts payable Common stock Retained earnings $ 8,300 $ 3,200 $35,00 $ 14,200 $ 2,000 $ 5,000 The beginning balance of retained earnings was $30,000, net income is budgeted to be $13,900, and dividends are budgeted to be $3100 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

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