Chapter 7 . Twitter . AC × / D Homework Chapter 7 Course Schedule-MGt. × Microso
ID: 2562850 • Letter: C
Question
Chapter 7 . Twitter . AC × / D Homework Chapter 7 Course Schedule-MGt. × Microsoft Office Hom × e × Cezto mheducation.com/hm tpx Ending Balances Cash Accounts receivable Supplies inventory Equipment $ 8.900 $ 5.500 3 38,000 $ 15.400 S 2600 S 5 000 Accounts payable Common stock Retained earnings The beginning balance of retained earnings was $25 000, net income is budgeted to be $21,100. and dividends are budgeted to be $3.500 Required: Prepare the company's budgeted balance sheet (Amounts to be deducted should be indicated by a minus sign.) Mecca Budgeted Balance Sheet Assets Current assets Total current assets Piant and equipment Plant and equipment, net Tolal assels iabilities and Stockholders Equity Current liablities Total stockholders' equity Total liabilities and stockholders' equity Type here to search ALExplanation / Answer
Mecca copy Bidgeted Balance sheet Assets Current Assets Cash $ 13,600 Accounts receivable $ 8,500 Supplies Inventory $ 5,500 Total Current Asset $ 27,600 Plant and Equipment Equipment $ 38,000 Accumulated depreciation $ (15,400) Plant and Equipment, Net $ 22,600 Total assets $ 50,200 Liabilities and stockholders Equity Current liabilities : Accounts payable $ 2,600 Stockholders equity Common stock $ 5,000 Retained earnings $ 42,600 Total Stockholders equity $ 47,600 Total libilties and stakehoders equity $ 50,200 Retained earnings Opening Balance $ 25,000 Net Income $ 21,100 Dividend $ (3,500) Closing Balance $ 42,600