Sarah, the sole shareholder of Mad Dog Food Truck, runs a food truck in the suburb of a large city. Her balance sheet as at November is as follows:
Mad Dog Food Truck
Balance Sheet
As at November
Assets
Cash $
Inventory $
Equipment $
Accumulated Depreciation $
Total Assets $
Liabilities
Accounts Payable $
Loan Payable $
Total Liabilities $
Shareholder's Equity $
Total Liabilities & Shareholder's Equity $
In the upcoming year, Sarah expects the following events to occur:
Total revenues of $ and total expenses of $
Inventory is expected to increase by $
By the end of November, Mad Dog Food Truck will owe its suppliers $
No principal payments will be made on the loan payable during
Purchase of new equipment for $ The entire purchase will be financed through a loan payable
Expect to have a cash balance of $ at the end of fiscal
Depreciate assets by $ during
Do not enter dollar signs or commas in the input boxes.
Use the negative sign for negative values.
Prepare Mad Dog Food Truck's budgeted balance sheet as at November
Mad Dog Food Truck
Budgeted Balance Sheet
As at November
Assets
Cash $Answer
Inventory $Answer
Equipment $Answer
Accumulated Depreciation $Answer
Total Assets $Answer
Liabilities
Accounts Payable $Answer
Loan Payable $Answer
Total Liabilities $Answer
Shareholder's Equity $Answer
Total Liabilities & Shareholder's Equity $Answer
