Exercise 8-9 Budgeted Balance Sheet [LO8-10]
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:
The beginning balance of retained earnings was $37,000, net income is budgeted to be $21,700, and dividends are budgeted to be $4,300.
Prepare the company’s budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.)
The answer has been presented in the supporting sheet. All the parts has been solved with detailed explanation and format. For detailed answer refer to the supporting sheet.
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