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The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the following data to use in p
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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
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