? The management of Mecca Copy, a photocopying center located on...
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Accounting
? 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 $ 10,000 Supplies inventory $ 4,400 Equipment $ 43,500 Accumulated depreciation $ 17,600 Accounts payable $ 3,700 Common stock $ 5,000 Retained earnings The beginning balance of retained earnings was $36,000, net income is budgeted to be $20.500, and dividends are budgeted to be $3,700 Required: Prepare the company's budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.) Mecca Copy Budgeted Balance Sheet Assets Current assets $ 0 Total current assets Plant and equipment 0 $ 0 Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities Stockholders' equilty Total stockholders' equity Total liabilities and stockholders' equity 0 0 5
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