Starting balance of retained earnings was 28000 net income, Ask an Expert

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Q1) Management of Mecca Copy, photocopying center located on University Avenue, has compiled given 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	?

Starting balance of retained earnings was $28,000, net income is butgeted to be $11,500, and dividends are butgeted to be $4,800.

problem:

Create company budgeted balance sheet.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M918783

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