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Make the company budgeted balance sheet

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Reference no: EM132598802

The management of Osman 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 is budgeted to be $8,600, and dividends are budgeted to be $3,500.

Required:

Question 1: Prepare the company's budgeted balance sheet.

Reference no: EM132598802

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