Purpose the company budgeted balance sheet

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Reference no: EM1311523

Prepare the company's budgeted balance sheet.

 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 butgeted to be $11,500, and dividends are butgeted to be $4,800.

Required:

Purpose the company budgeted balance sheet.

Reference no: EM1311523

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