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Unformatted text preview: h Budget. Cash Budget. 7-83 Learning Objective 10 Prepare a budgeted balance sheet. 7-84 The Budgeted Balance Sheet Royal reported the following account Royal balances prior to preparing its budgeted financial statements: financial •Land - $50,000 •Common stock - $200,000 •Retained earnings - $146,150 (April 1) •Equipment - $175,000 7-85 Royal Company Budgeted Balance Sheet June 30 Assets: Cash Accounts receivable Raw materials inventory Finished goods inventory Land Equipment Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 43,000 75,000 4,600 24,950 50,000 367,000 564,550 $ 28,400 200,000 336,150 $ 564,550 7-86 Royal Company Budgeted Balance Sheet June 30 Assets: Cash Accounts receivable Raw materials inventory Finished goods inventory Land Equipment Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ Beginning balance Add: net income 43,000 dividends Deduct: Ending 75,000 balance $146,150 239,000 (49,000) $336,150 4,600 24,950 50,000 367,000 564,550 $ 28,400 200,000 336,150 $ 564,550 7-87 End of Topic 07 7-88...
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This document was uploaded on 03/23/2014.

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