Wylie Company Has Just Completed Operations for the Year Ended

question 88

Essay

Wylie Company has just completed operations for the year ended December 31,2018.This is the second year of operations for the company.The company is a sole proprietorship.The following data have been assembled for the business.There were no new capital contributions during the year.
$$\begin{array} { | l | r| r | r | } \hline \text { Accounts Payable } & \$ 12,200 & \text { Office Expense } & \$ 6,500 \\\hline \text { Accounts Receivable } & 14,500 & \text { Rent Expense } & 9,600 \\\hline \text { Cash } & 8,200 & \text { Wylie, Capital, Jan. 1,2018 } & 17,300 \\\hline \text { Wylie, Withdrawals } & 13,500 & \text { Salaries Expense } & 36,000 \\\hline \text { Equipment } & 15,000 & \text { Service Revenue } & 84,000 \\\hline \text { Insurance Expense } & 4,000 & \text { Utilities Expense } & 6,200 \\\hline\end{array}$$ Prepare the balance sheet at December 31,2018.Use a proper heading.

---

Definitions:

Dural Venous Sinus

Channels located within the dura mater layer of the meninges that drain venous blood from the brain and transport it into the internal jugular vein.

Subdural Space

The area between the dura mater and the arachnoid mater of the brain, potentially a site for hematomas following head injury.

Cerebellum

The part of the brain at the back of the skull in vertebrates, responsible for coordinating and regulating muscular activity.

Flocculonodular Lobe

A region of the cerebellum involved in the coordination of balance and eye movements.