Felix Company has just completed operations for the year end

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

ANSWER

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