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Correct the mistakes of the below balance sheet by preparing the corrected version of the balance sheet. Please list and explain the mistakes and changes.
Correct the mistakes of the below balance sheet by preparing the corrected version of the balance sheet. Please list and explain the mistakes and changes. Thank you!
ASSETS Goodwill 26 000 Machinery, plant and equipment - gross value 66 000 Long term bank loans 15 000 2 200 19 000 44 000 Completed development costs Payments received on account Short term debt securities 17 000 3 000 31 000 EQUITY & LIABILITIES Share capital not paid up External services Accumulated depreciation of machinery, plant and equipment Revaluation reserve Share capital Trade receivables due after 24 months Increase in liabilities Deferred income Treasury shares 12 000 ? 5 100 17 000 11 500 2 000 7 200 2 100 2400 Licenses bought for resale Trade liabilities due in 2006 Goods for resale bought in 2004 and fully written off Deferred tax provision Work in progress Total assets 20 000 3 400 100 000 Short term loans granted Semi-finished products Total equity and liabilities 40 000 5 000Step by Step Solution
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