I think im missing something. Can you correct me? BEESON COMPANYBalance SheetDecember 31, 2017Liabilities and Stockholders' Equity$16,000(12,000)40,00031,500Assets$18,0009,50040,0008,000Accounts payableAccounts receivableCommon stockRetained earningsTotal liabilities andstockholders' equityCashSuppliesEquipmentDividendsTotal assets$75,500$75,5002onoInstructionsPrepare a correct balance sheet.

The question is based on the concept of Final Accounts.

BEESON COMPANY Balance Sheet December 31, 2017 Liabilities and Stockholders' Equity Accounts payable Accounts receivable Common stock Retained earnings Total liabilities and stockholders' equity Assets $18,000 9,500 40,000 8,000 $16,000 (12,000) 40,000 31,500 Cash Supplies Equipment Dividends Total assets $75,500 $75,500 Lono re ole Instructions

BEESON COMPANY Balance Sheet December 31, 2017 Liabilities and Stockholders' Equity Accounts payable Accounts receivable Common stock Retained earnings Total liabilities and stockholders' equity Assets $18,000 9,500 40,000 8,000 $16,000 (12,000) 40,000 31,500 Cash Supplies Equipment Dividends Total assets $75,500 $75,500 Lono re ole Instructions

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Elkhorn, Incorporated, which has excess capacity, received a special order for 4, 200 units at a price of $17 per unit. Currently, production and sales are anticipated to be 13,000 units without considering the special order. Budget information for the current year follows. Sales $ 260, 000 Less: Cost of Goods Sold 195, 000 Gross Margin $ 65,000 Cost of goods sold includes $52, 000 of fixed manufacturing cost. If the special order is accepted, the company's income will: Multiple Choice None of the answers is correct. decrease by $8,400. increase by $25, 200. decrease by $25, 200. increase by $8,400.