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Andrew Davis is the bookkeeper for Cheyenne Company. Andrew has been trying to get the balance sheet of Cheyenne Company to balance. It finally balanced, but now he??s not sure it is correct. InstructionsPrepare a correct balance sheet. CHEYENNE COMPANY

Andrew Davis is the bookkeeper for Cheyenne Company. Andrew has been trying to get the balance sheet of Cheyenne Company to balance. It finally balanced, but now he??s not sure it is correct.

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InstructionsPrepare a correct balance sheet.

Transcribed Image Text:

CHEYENNE COMPANY Balance Sheet December 31, 2012 Assets Liabilities and Stockholders' Equity Cash Supplies Equipment $18,000 Accounts receivable Common stock Retained earnings Total liabilities and stockholders' equity (12,000) 40,000 31,500 40,000 8,000 Dividends Total assets $75,500 $75,500

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CHEYENNE COMPANY Balance Sheet December 31 2012 Assets Cash 18 000 Acc…View the full answer


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Financial Accounting Tools for business decision making

Financial Accounting Tools for business decision making

ISBN: 978-0470534779

6th Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Question Details
Chapter # 1- Introduction to Financial Statements
Section: Exercises
Problem: 14
Posted Date: September 22, 2011 09:03:23
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