Question

To prepare a budgeted balance sheet as of December 31, 2020, data is needed from the ______ December 31, 2019. income statement for the year ended

Answer 1

data is needed from the balanceh sheet as of

Answer 2

Answer and Explanation:

For preparing the budgeted balance sheet as of December 31,2020 we need to refer the data of balance sheet as of December 31,2019 so that the firm could get an idea.

Also by referring the income statement, statement of owner equity, profit and loss account we can get an idea so that it becomes easy for the company to prepare the budgeted balance sheet