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:

Head

The upper part of the human body, or the leading or front part of something.

Umbilical Region

The area of the abdomen around the navel or umbilicus, often used as a reference point in medical examinations.

Navel

The scar on the abdomen that marks where the umbilical cord was attached in the womb, also known as the belly button.

Inferior Location

A position below or lower than another part of the body or structure, typically used in anatomical descriptions.