Final answer:
Accounts payable and receivable balances, Investments purchased, and Asset acquisitions from the budgeted income statement are needed to determine the ending balance sheet numbers when completing a master budget.
The answer is option ⇒1,2 and 3
Step-by-step explanation:
When completing a master budget, certain figures from the budgeted income statement are needed to determine the ending balance sheet numbers. These figures include:
1. Accounts payable and receivable balances: The amounts owed to suppliers (accounts payable) and the amounts owed by customers (accounts receivable) are crucial in calculating the liabilities and assets sections of the ending balance sheet, respectively.
2. Investments purchased: If a company has invested in stocks, bonds, or other financial instruments, the value of these investments should be included in the assets section of the ending balance sheet. The figures for investments purchased can be obtained from the budgeted income statement.
3. Asset acquisitions: Asset acquisitions refer to the purchase of tangible assets such as machinery, equipment, or property. These acquisitions impact the assets section of the ending balance sheet. The cost of these acquisitions can be found in the budgeted income statement.
By considering the figures for accounts payable and receivable balances, investments purchased, and asset acquisitions from the budgeted income statement, you can accurately determine the ending balance sheet numbers for a master budget.
The answer is option ⇒1,2 and 3
Your question is incomplete, but most probably the full question was:
______from the budgeted income statement are needed to determine the ending balance sheet numbers when completing a master budget.
- - Accounts payable and receivable balances
- -Investments purchased
- -Asset acquisitions
- - Numbers