Felix Company Has Just Completed Operations for the Year Ended

question 195

Essay

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.
$$\begin{array} { | l | r | l| } \hline \text { Accounts Payable } & \$ 12,200& \text { Office Expense } & \$ 6,500 \\\hline \text { Accounts Receivable } & 14,500& \text { Rent Expense } & 9,600 \\\hline \text { Cash } & 8,200& \text { Retained Earnings, Jan. 1,2016 } & 8,300 \\\hline \text { Common Stock } & 9,000& \text { Salaries Expense } & 36,000 \\\hline \text { Dividends } & 13,500 &\text { Service Revenue } & 84,000 \\\hline \text { Equipment } & 15,000 &\text { Utilities Expense } & 6,200 \\\hline \text { Insurance Expense } & 4,000 & \\\hline\end{array}$$ Prepare the balance sheet.Use a proper heading.

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Definitions:

Doublet

A pattern seen in NMR spectroscopy indicating two adjacent hydrogen atoms influencing a signal.

NMR

Nuclear Magnetic Resonance, a spectroscopic technique used to determine the structure of molecules.

IR

An abbreviation for infrared spectroscopy, a method for studying molecules by observing their interaction with infrared light to identify chemical bonds and functional groups.

Medium

An environment or substance in which other materials or reactions are hosted or take place, potentially affecting their properties.