Accounting for the Budgeted Balance Sheet as part of the Master Budget & Financial Budget, setting up & calculating the Budgeted Balance Sheet, BUDGETED BALANCE SHEET (1) ASSETS (a) Current Assets: Cash (from Cash Budget), Accounts Receivable (Sales Bud.& Prev B/S),Direct Materials (Ending Inventory Budget) Finished Goods (Ending Inventory Budget ) (b) Long Term Assets:Land (Previous B/S & bud. activity),Buildings (Previous B/S & budget activity), Equipment (Previous B/S & budget activity)(-) Accum. Depreciation = Total Assets, (2) LIABILITIES (c)Current Liabilities: Accounts Payable (Operating Sub-Budgets) Taxes Payable (Income Statement) (d) Long Term Liabilities =Total Liabilities, (3) SHAREHOLDERS EQUITY (e) Common Stock (Prev. B/S & bud. activity) (f) Retained Earnings (Previous B/S & I/S) = Total Shareholders' Equity, detailed discussion by Allen Mursau
