Robyn Howser is the bookkeeper for Madison Company. Robyn has been trying to determine the correct balance
Question:
Robyn Howser is the bookkeeper for Madison Company. Robyn has been trying to determine the correct balance sheet for Madison Company, shown as follows.
Instructions
Prepare a correct balance sheet.
Transcribed Image Text:
Madison Company Balance Sheet December 31, 2022 Assets. Liabilities. $14,000 . Accounts payable Cash $15,000 3,000 . Accounts receivable Supplies (8,500) Equipment 48,000 . Common stock $65,000 , Retained earnings 50,000 Total 8,500 assets Total liabilities and stockholdolders' equity $65,000
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Related Book For
Financial Accounting
ISBN: 9781119594598
11th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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