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Wayne Holtz is the bookkeeper for Cullumber Company. Wayne has been trying to get the balance sheet of Cullumber Company to balance. It finally balanced,
Wayne Holtz is the bookkeeper for Cullumber Company. Wayne has been trying to get the balance sheet of Cullumber Company to balance. It finally balanced, but now he's not sure it is correct. Cullumber Company Balance Sheet December 31, 2022 Assets Liabilities and Stockholders' Equity Cash $15,500 Accounts payable $16,500 Supplies 9,200 Accounts receivable (11,800) Equipment Dividends Total assets 41,500 7,400 $73,600 Common stock 47,000 Retained earnings 21,900 Total liabilities and stockholders' equity $73,600 Prepare a correct balance sheet. (List assets in order of liquidity.) CULLUMBER COMPANY Balance Sheet For the Year Ended December 31, 2022 Cash Supplies Equipment Dividends Total Assets Stockholders' Equity Common stock Liabilities Accounts payable Accounts Receivable Assets $15,500 9,200 41,500 7,400 73600 Liabilities and Stockholders' Equity 16,500 -11,800 47,000 Stockholders' Equity Common stock Liabilities Accounts payable Accounts Receivable Total Liabilities and Stockholders' Equity Current Assets +A 16,500 -11,800 +A 47,000 -51700 21900
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