Dave is the preseident of Avon consulting inc avon began beusiness on January 1, 2008 The company's controller is out of the country on business. Dave needs a copy of the company's balance sheet for a meeting tomorrow and asks his assistant to obtain the required information from the company's records. she presents dave with the following balance sheet.
Assest Liabilites and stockholders equity
Accounts payable 13,000 accounts receivable 16,000
cash 21,000 capital stock 20,000
cash dividends paid 16,000 net income for 2008 72,000
funiture and equipment 43,000 supplies 9,000
1. prepare a corrected balance sheet.