Charles Cocoa Corporation (CCC) has gathered the following data pertaining to the preparation of its 2020 budgeted balance sheet:
A selection of CCC’s December 31, 2019 balances are as follows
Capital Assets 100,000
Accumulated Depreciation 2,500
Notes Payable 0
Stockholder’s Equity 75,500
Prepare a budgeted balance sheet for December 31, 2020.
Charles Cocoa Corporation Budgeted Balance Sheet As at December 31, 2020 |
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Assets |
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Cash |
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Accounts Receivable |
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Capital Assets |
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Accumulated Depreciation |
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total Assets |
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liabilities |
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Accounts Payable |
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Notes Payable |
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total liabilities |
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Stockholder's equity |
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total liabilities and Stockholder's equity |
As at December 31, 2020 | ||
Assets | ||
Cash | 57000 | |
Accounts Receivable | 3 % of sales rev | 6000 |
Capital Assets | 225000 | |
Accumulated Depreciation | -7500 | |
total Assets | 280500 | |
liabilities | ||
Accounts Payable | 30000 | |
Notes Payable | 125000 | |
total liabilities | ||
Stockholder's equity | 125500 | |
total liabilities and Stockholder's equity | 280500 |
Charles Cocoa Corporation (CCC) has gathered the following data pertaining to the preparation of its 2020...
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