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Andrew davis is the bookkeeper for cheyenne company andrew

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Reference no: EM13572492

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.

CHEYENNE COMPANY

Balance Sheet

31-Dec-12

Assets

Liabilities and Stockholders" Equity

Cash

$18,000

Accounts payable

$16,000

Supplies

9,500

Accounts receivable

-12,000

Equipment

40,000

Common stock

40,000

Dividends

8,000

Retained earnings

31,500

Total assets

$75,500

Total liabilities and


stockholders" equity

$75,500

Instructions

Prepare a correct balance sheet.

Reference no: EM13572492

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