Maurice Tutor

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About Maurice Tutor

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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 3 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 24 Sep 2017 My Price 7.00

Labyrinth Services Co

Balance sheet

List the errors you find in the following balance sheet. Prepare a corrected balance sheet.

 

 

 

Labyrinth Services Co.

Balance Sheet

For the Year Ended August 31, 2014

Assets

Liabilities

Current assets:

  

Current liabilities:

  

Cash

$18,500

  

Accounts receivable . .

$ 41,400

  

Accounts payable . .

31,300

  

Accum. depr.—building

155,000

  

Supplies

6,500

  

Accum. depr.—equipment

25,000

  

Prepaid insurance . .

16,600

  

Net income .

118,200

  

Land

225,000

  

Total liabilities

$339,600

Total current

$297,900

      

Property, plant, and equipment

  

Stockholders' Equity

Building .

$400,000

  

Wages payable . .

$6,500

  

Equipment ?

97,000

  

Capital stock . ????????

75,000

  

Total property, Plant and equipment

635,400

Retained earnings

512,200

  
     

Total stockholders' equity

593,700

Total assets .

$933,300

Total liabilities and stockholders' equity .

$933,300

 

Answers

Maurice Tutor
(5)
Status NEW Posted 24 Sep 2017 10:09 PM My Price 7.00

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