Based on the following information gathered from the budgets indicated, create a Budgeted Balance Sheet for Pop Products, Inc. for July $31,2021.$

Source Budget Account Amount

Cash Budget Cash $$44,630$

Schedule of Cash Receipts Accounts Receivable $$81,950$

Direct Material Budget Raw Materials Inventory $$30,000$

Production Budget Finished Good Inventory $150$ units

Cost of Goods Sold Budget Finished Good Inventory $330$ per unit

$2020$ Balance Sheet Equipment $$319,410$

Capital Expenditures Budget Equipment $$175,560$

$2020$ Balance Sheet Accumulated Depreciation $$14,130$

Manufacturing Overhead Budget Accumulated Depreciation $$47,370$

Schedule of Cash Payments Accounts Payable $$26,370$

$2020$ Balance Sheet Common Stock $$335,950$

$2020$ Balance Sheet Retained Earnings $$72,270$

Budgeted Income Statement Retained Earnings $$204,960$Pop Products, Inc.

Budgeted Balance Sheet

July $31,2021$