Question
a)Identity the 3 errors in the current asset section of the balance sheet below . b)Correct the errors. c)Who should the error be reported to?Refer
a)Identity the 3 errors in the current asset section of the balance sheet below.
b)Correct the errors.
c)Who should the error be reported to?Refer to the Extract from Gold Catering Policies and Procedures.
Current Assets
Petty Cash 200
Inventories 61,200
Accounts receivable 30,000
Cash at bank 32,000
Inventories 61,200
Drawings 4,000
Total Current Assets $80,000
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Managerial Accounting Tools for Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
8th edition
978-1-119-3904, 1119392422, 111939242X, 1119390451, 978-1119392422
