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Prepare the companys budgeted balance sheet

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Reference no: EM13962970

The management of Academic 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 . . . . . . . . . . . . . $6,500
Supplies inventory . . . . . . . . . . . . . . . $2,100
Equipment . . . . . . . . . . . . . . . . . . . . . $28,000
Accumulated depreciation . . . . . . . . . $9,000
Accounts payable . . . . . . . . . . . . . . . $1,900
Common stock . . . . . . . . . . . . . . . . . $4,000
Retained earnings . . . . . . . . . . . . . . ?
The beginning balance of retained earnings was $21,000, net income isbudgeted to be $8,600, and dividends are budgeted to be $3,500.

Required: 

Prepare the company's budgeted balance sheet. 

Reference no: EM13962970

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