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Can you walk me through what I'm doing wrong on this balance sheet? these are some notes about what i'm getting wrong: A minor reclassification
Can you walk me through what I'm doing wrong on this balance sheet? these are some notes about what i'm getting wrong:
"A minor reclassification adjustment. Your values are correct"
The trial balance is what I made the balance sheet from.
\fTrial Balance December 31, 2018 Debits Cash S 22,500 Accounts Receivable, net 17,350 Inventory, December 31 70,350 Prepaid Insurance 5,200 Prepaid Rent 20,000 Prepaid Advertising 2,500 Equipment 60,000 Accumulated Depreciation Eqpuipment Accounts Payable Notes Payable Salaries Payable Payroll Tax Payable Interest Payable Common Stock Retained Earnings Dividends 15,500 Sales Revenue Cost ofGoods Sold 207,400 Bad Debt Expense 4,900 Rent Expense 20,000 Interest Expense 2,000 Legal Fees Expense 450 Insurance Expense 5,200 Property Tax Expense 1,250 Postage Expense 224 Salaries Expense(admin) 59,850 Advertising Expense 26,700 Utilities Expense 22,500 Payroll Tax Expense (operations) 11,445 Income Tax Expense 8,133 Payroll Tax Expense (admin) 8,978 Salaries Expense (operations) 76,300 Depreciation Expense 6,500 Supplies Expense 4,200 Total S 679,430 Credits 5 22,500 17,000 25,000 5,400 2,130 250 10,000 100,525 496,625 $ 679,430 Note that accounts may or many not be listed in standard way of ordering (Assets, Liabilites, Equity, Revenue, and Expenses)Step by Step Solution
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