Robyn Howser is the bookkeeper for Madison Company. Robyn has been trying to get the balance sheet
Question:
Robyn Howser is the bookkeeper for Madison Company. Robyn has been trying to get the balance sheet of Madison Company to balance. Madison’s balance sheet is shown below.
Instructions
Prepare a correct balancesheet.
Transcribed Image Text:
MADISON COMPANY Balance Sheet December 31, 2015 Assets Liabilities Cash Supplies Equipment Dividends $14,000 3,000 48,000 9,000 Total assets $74,000 Accounts payable Accounts receivable Common stock Retained earnings $15,000 (8,500) 50,000 17,500 Total liabilities and stockholders' equity $74,000
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MADISON COMPANY Balance Sheet December 31 2015 Assets Cash 14000 Accoun...View the full answer
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Related Book For
Financial Accounting
ISBN: 9781118334324
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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