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

Instructions
Prepare a correct balance sheet.

Transcribed Image Text:

BEESON COMPANY Balance Sheet December 31, 2017 Assets Liabilities and Stockholders' Equity Cash Supplies Equipment Dividends $18,000 9,500 40,000 8,000 Accounts payable Accounts receivable Common stock Retained earnings Total liabilities and $16,000 (12,000) 40,000 31,500 Total assets $75,500 stockholders' equity $75,500