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Category > Accounting Posted 03 May 2017 My Price 7.00

Burnt Red Company Balance Sheet December

Ex 9-22  Balance sheet presentation

List the errors you find in the following partial balance sheet:

Burnt Red Company Balance Sheet December 31, 2016

http://test.transtutors.com/qimg/10afe46e-ca96-4091-b4e3-ecce153e46a7.pngAssets

Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                             $350,000

 

 

ReplacementCost

Accumulated Depreciation

BookValue

 

Property, plant, and equipment:

Land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

 

$   250,000

 

$ 50,000

 

$200,000

 

Buildings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

450,000

160,000

290,000

 

Factory equipment  . . . . . . . . . . . . . . . . . . . . . . . . . .

375,000

140,000

235,000

 

Office equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . .

125,000

60,000

65,000

 

Patents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

90,000

—

90,000

 

Goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

60,000

10,000

50,000

 

Total property, plant, and equipment . . . . . . .   .

$1,350,000

$420,000

$930,000

 

 

 

 

Answers

Alpha Geek
(8)
Status NEW Posted 03 May 2017 01:05 PM My Price 7.00

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Attachments

file 1493818418-answer1.docx preview (389 words )
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