Edward Waltz is the bookkeeper for Edminson Company. Edward has been trying to get the balance sheet of Edminson Company to balance. It finally balanced, but now he’s not sure it is correct.

EDMINSON COMPANY Balance Sheet December 31, 2014 Assets Cash $18,000 Supplies 9,500 Equipment 40,000 Dividends 8,000 Total assets $75,500 Liabilities and Stockholders’ Equity Accounts payable $16,000 Accounts receivable (12,000)

Common stock 40,000 Retained earnings 31,500 Total liabilities and stockholders’ equity $75,500 Instructions Prepare a correct balance sheet.

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