Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

core: 9.38 of 15 pts 3 of 3 (complete HW Score: 77.5%, 1938 P1-31A (similar to) Dan Shou, manager of Varitek Inc, prepared the company's

image text in transcribed
image text in transcribed
image text in transcribed
core: 9.38 of 15 pts 3 of 3 (complete HW Score: 77.5%, 1938 P1-31A (similar to) Dan Shou, manager of Varitek Inc, prepared the company's balance sheet while the account was the balance sheet contains numerous nos in perfic. Show of the beach should be seep the shareholders equity amount needed to achieve this balance. The shareholders witymounts of correct All other am accurate Click the icon to view the financial data.) Requirements 1. Prepare the correct balance sheet and date properly Computo totales totales and shareholders guy 2. Is Varitek inc actually in better or worse financial position than the ones balance sheet reports Give the reason for your 3. Identify the accounts listed on the incorrect balances that are not reported on the balance sheet State why you excluded them from the correct has short you prepared for Regiment on what should the accounts appear? Accounts recevable 12.000 Notepayable 500 Store focus 9000 oil to 24.000 Lund 35.000 Shareholders' 01.000 Shareholders $ 5 000 105.000 Totalanes Total des share Requirement 2. Is Vartek inc actually in botter or worse financial position than the oneous lance sheet reports the reason for your Varitek in bene financial position as shareholders equity has increased by and tiles have decreed ! Enter your answer in the edited and then click Check Answer CHA parts remaining GIPU 02 O FINO O i $ BE Type here to search Homework: Assignment 1B Score: 9.38 of 15 pts 3 of 3 (come) HW Score: 775%, 19 38 of P1-31A (similar to) Question Dan Show, manager of Varak ne prepared the company's balance sheet while the accountant was the balance sheet contains numerous error in particular. She knew that the balance sheet should be so hepp the shareholders equity amount needed to che i balance the whole equy mount is not correct All other mounts Click the icon to view the financial data) Requirements 1. Prepare the contestance sheet and date property Compute total sales and shareholders > Vartok Inc. adually in the worsendel bien than the one bwance sheet reports for you 3. Memily the counted on the couchalana shu that are reported on the other state why you made them from the connect biance that you prepared for Regment Onlich nach should the sce? Alcube 1) 000 Non payti 20 9,000 Total 2000 Land 35.000 Share Equity Shad 1010 5 35.000 th DO Requirement 2. Is Vente in a better wonencial potion than the one the resolverson for your Vittek is het andet hade hand and tables hune dhened Ether you with this and the clox Check Answer 2 CA o Treo here to search o AOG IN GIPU 021-01-29 Finanacial Data - hat the . Varitek Inc. op Balance Sheet For the Month Ended March 31, 2020 ince pared for Assets Liabilities Cash $ 25,000 Accounts receivable 12,000 9,000 Sales revenue 2.000 2.000 9,000 15,500 49,000 1,000 8,500 3.600 Store fixtures Accounts payable Rent expense Salaries expense Land Advertising expense Interest expense Note payable Total 35.000 70.500 1,700 39.000 3,000 Twors olders Shareholders' Equity Shareholders' equity Total liabilities and 26,300 dick Ch Print Done . o $ Thn

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Software Audit Guide

Authors: John W. Helgeson

1st Edition

0873897730, 978-0873897730

More Books

Students also viewed these Accounting questions