On December 31, Collins Co. had the following list of accounts.

Accounts Payable

$28,100

Entertainment Expense

$3,200

Accounts Receivable

49,000

Legal Expense

9,500

Beginning Retained Earnings

36,500

Prepaid Rent

21,000

Capital Stock

51,300

Rent Expense

4,300

Cash

59,700

Supplies

12,200

Consulting Revenue

50,800

Supplies Expense

3,000

Dividends

19,600

Unearned Revenue

14,800

Ending Retained Earnings

47,700

Required:

Prepare a balance sheet on December 31, classifying and ordering all balance sheet accounts in the proper sections.

Collins Company

Balance Sheet

December 31

Assets

(Choose one)Accounts PayableAccounts ReceivableAdvertising ExpenseBeginning Retained EarningsCapital StockCashConsulting RevenueDividendsEntertainment ExpenseLegal ExpenseMaintenance ExpenseNet IncomePrepaid RentRent ExpenseRetained EarningsService RevenueSuppliesSupplies ExpenseTravel ExpenseUnearned RevenueUtilities Expense

Total Assets

Liabilities

(Choose one)Accounts PayableAccounts ReceivableAdvertising ExpenseBeginning Retained EarningsCapital StockCashConsulting RevenueDividendsEntertainment ExpenseLegal ExpenseMaintenance ExpenseNet IncomePrepaid RentRent ExpenseRetained EarningsService RevenueSuppliesSupplies ExpenseTravel ExpenseUnearned RevenueUtilities Expense

Total Liabilities

Stockholders' Equity

(Choose one)Accounts PayableAccounts ReceivableAdvertising ExpenseBeginning Retained EarningsCapital StockCashConsulting RevenueDividendsEntertainment ExpenseLegal ExpenseMaintenance ExpenseNet IncomePrepaid RentRent ExpenseRetained EarningsService RevenueSuppliesSupplies ExpenseTravel ExpenseUnearned RevenueUtilities Expense

Total Stockholders' Equity

Total Liabilities and Stockholders' Equity

$0