To prepare a budgeted balance sheet as of december 31, 2020, data is needed from the ______ december 31, 2019.

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11-08-2022
Business

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To prepare a budgeted balance sheet as of december 31, 2020, data is needed from the ______ december 31, 2019.

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yogeshkumar49685 yogeshkumar49685 · Answer 1 · 2022-08-17T14:09:40+02:00

We require the data from balance sheet as on December 31,2019 to prepare budget of December 31,2020.

Given that we need to prepare the budget of December 31,2020.

We are required to give the resource from which we can prepare the budget of December 31,2020.

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

Also we can refer to 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.

Hence we require the data from balance sheet as on December 31,2019 to prepare budget of December 31,2020.

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