Mecca Copy | ||
Budgeted Balance Sheet | ||
Assets | ||
Current assets: | ||
Cash | 17400 | |
Accounts receivable | 9800 | |
Supplies inventory | 4000 | |
Total current assets | 31200 | |
Plant and equipment: | ||
Equipment | 42500 | |
Accumulated depreciation | -17200 | |
Plant and equipment, net | 25300 | |
Total assets | 56500 | |
Liabilities and Stockholders' Equity | ||
Current liabilities: | ||
Accounts payable | 3500 | |
Stockholders' equity: | ||
Common stock | 5000 | |
Retained earnings | 48000 | |
Total stockholders' equity | 53000 | |
Total liabilities and stockholders' equity | 56500 | |
Note: Retained earnings = 34000+18100-4100 = 48000 |
The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the following...
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 $ 9,800 $ 4,000 $ 42,500 $ 17,200 $ 3,500 $ 5,000 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: Prepare...
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 $ 9,600 $ 3,600 $ 41,500 $ 16,800 $ 3,300 $ 5,000 The beginning balance of retained earnings was $32,000, net income is budgeted to be $15,700, and dividends are budgeted to be $5,800. Required: Prepare...
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 $ 9,100 receivable Supplies inventory $ 2,600 Equipment $39,000 Accumulated $15,800 depreciation Accounts payable $ 2,800 Common stock $ 5,000 Retained earnings The beginning balance of retained earnings was $27,000, net income is budgeted to be $16,600, and dividends are budgeted to be $3,100. Required: Prepare the company's...
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 $ 8,600 4,900 36,500 $14,800 $ 2,300 5,000 Retained earnings The beginning balance of retained earnings was $33,000, net income is budgeted to be $17,500, and dividends are budgeted to be $3,300. Required: Prepare the company's budgeted balance...
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 $ 8,100 Supplies inventory 3,200 Equipment $34,000 Accumulated $16,000 depreciation Accounts payable Common stock Retained earnings $1,800 $ 5,000 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. Required: Prepare the company's budgeted balance...
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 $ 8,100 $ 3,200 $ 34,000 $ 16,000 $ 1,800 $ 5,000 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. Required: Prepare...
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 $ 8,100 Supplies inventory $ 3,200 Equipment $ 34,000 Accumulated depreciation $ 16,000 Accounts payable $ 1,800 Common stock $ 5,000 Retained earnings ? Check my work Exercise 8-9 Budgeted Balance Sheet [LO8-10] The management of Mecca Copy, a photocopying center located on University Avenue, has...
please complete The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the following daty 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 $ 9,400 $ 3,200 $ 40,500 $ 16,400 $ 3,100 $ 5,000 The beginning balance of retained earnings was $30,000, net income is budgeted to be $20,200, and dividends are budgeted to be $3,300....
The management of Mecca Copy, a photocopying center located on University Avenue, has complled 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 2 $ 8,500 $ 4,700 $ 36,000 $ 14,600 $ 2,200 $ 5,000 2 The beginning balance of retained earnings was $32,000, net income is budgeted to be $16,300, and dividends are budgeted to be $2,700....
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 $ 8.600 $ 4,900 $ 36,500 $ 14,800 $ 2.300 $ 5,000 The beginning balance of retained earnings was $33,000, net income is budgeted to be $17.500, and dividends are budgeted to be $3,300. Required: Prepare...