Felix Company has just completed operations for the year ended December 31, 2016. This is the second year of operations for the company. The following data have been assembled for the business
Accounts Payable $ 12,200 Office Expense $ 6,500
Accounts Receivable 14,500 Rent Expense 9,600
Cash 8,200 Retained Earnings, Jan. 1, 2016 8,300
Common Stock 9,000 Salaries Expense 36,000
Dividends 13,500 Service Revenue 84,000
Equipment 15,000 Utilities Expense 6,200
Insurance Expense 4,000
Prepare the balance sheet. Use a proper heading.
What will be an ideal response
Felix Company
Balance Sheet
December 31, 2016
Assets Liabilities
Cash $8,200 Accounts Payable $ 12,200
Accounts Receivable 14,500 Total Liabilities 12,200
Equipment 15,000
Stockholders' Equity
Common Stock 9,000
Retained Earnings 16,500
_______ Total Stockholders' Equity 25,500
Total Assets $37,700 Total Liabilities and Stockholders' Equity $37,700
You might also like to view...
You have come across an investment opportunity that will give you $51,725.29 in 14 years if you put up $12,000 today. Calculate the annual return on this investment
A) 11% B) 10% C) 12% D) 13% E) 9%
In conducting a multiple linear regression analysis, an R2 value of 0.46 is obtained. An extra variable is added and R2 improves to 0.52
The analyst conducting the regression analysis concludes that this is a meaningful increase in R2 and determines that the latter model is an appropriate model to be used. Is this decision justified?