BUDGETED BALANCE SHEET | ||
Name of the Company Mecca Copy | ||
Balance Sheet as at ……………………… | ||
Particulars | $ | $ |
I. EQUITY AND LIABILITIES | ||
(1) Shareholders’ funds | ||
(a) Share capital (Common Stock) | $5,000 | |
(b) Reserves and surplus (Retained Earnings) | ||
At the beginning of the year | $26,000 | |
Add: Profit earned during the year | $15,400 | |
Less: Dividend Distributed | -$5,400 | |
$36,000 | ||
(c) Money received against share warrants |
||
(2) Share application money
pending allotment |
||
(3) Non-current liabilities | ||
(a) Long-term borrowings | ||
(b) Deferred tax liabilities (Net) | ||
(c) Other Long term liabilities | ||
(d) Long-term provisions | ||
(4) Current liabilities | ||
(a) Short-term borrowings | ||
(b) Trade payables | $2,700 | |
(c) Other current liabilities | ||
(d) Short-term provisions | ||
TOTAL | $43,700 | |
II. ASSETS | ||
Non-current assets | ||
(1) (a) Fixed assets | ||
(i) Tangible assets (Equipment) | ||
Cost | $38,500 | |
Less: Accumulated Depreciation | -$15,600 | |
$22,900 | ||
(ii) Intangible assets | ||
(iii) Capital work-in-progress | ||
(iv) Intangible assets under development |
||
(b) Non-current investments | ||
(c) Deferred tax assets (net) | ||
(d) Long-term loans and advances | ||
(e) Other non-current assets | ||
(2) Current assets | ||
(a) Current investments | ||
(b) Inventories | $2,400 | |
(c) Trade receivables | $9,000 | |
(d) Cash and cash equivalents (Balancing Figure) | $9,400 | |
(e) Short-term loans and advances | ||
(f) Other current assets | ||
TOTAL | $43,700 |
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 $ 8,100 Supplies inventory $ 3,200 Equipment $ 34,000 Accumulated depreciation $ 16,000 Accounts payable $ 1,800 Common stock $ 5,000 Retained earnings ? 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....
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 $ 10,100 Supplies inventory $ 4,600 Equipment $ 44,000 Accumulated depreciation $ 17,800 Accounts payable $ 3,800 Common stock $ 5,000 Retained earnings ? The beginning balance of retained earnings was $37,000, net income is budgeted to be $21,700, and dividends are budgeted to be $4,300....
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...
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 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 $ 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 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
$
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...
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...