Exercise 1-14

Wayne Holtz is the bookkeeper for Sheridan Company. Wayne has been trying to get the balance sheet of Sheridan Company to balance. It finally balanced, but now hes not sure it is correct.

Sheridan Company Balance Sheet December 31, 2017
Assets				Liabilities and Stockholders Equity
Cash		$11,300		Accounts payable		$9,300
Supplies		16,200		Accounts receivable		(18,700	)
Equipment		33,300		Common stock		46,700
Dividends		14,700		Retained earnings		38,200
Total assets		$75,500		Total liabilities and stockholders equity		$75,500

Prepare a correct balance sheet. (List assets in order of liquidity.)

Sheridan Company Balance Sheet For the Month Ended December 31, 2017December 31, 2017For the Year Ended December 31, 2017
Assets
					$
Current AssetsLiabilitiesIntangible AssetsLong-Term InvestmentsLong-Term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-Term InvestmentsTotal Long-Term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity					$
Liabilities and Stockholders' Equity
Current AssetsLiabilitiesIntangible AssetsLong-Term InvestmentsLong-Term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-Term InvestmentsTotal Long-Term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity
					$
Current AssetsLiabilitiesIntangible AssetsLong-Term InvestmentsLong-Term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-Term InvestmentsTotal Long-Term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity
			$
Current AssetsLiabilitiesIntangible AssetsLong-Term InvestmentsLong-Term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-Term InvestmentsTotal Long-Term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity
Current AssetsLiabilitiesIntangible AssetsLong-Term InvestmentsLong-Term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-Term InvestmentsTotal Long-Term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity					$