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Could someone correct this balance sheet thank you You have now begun preparing drafts of the financial statements for GreenEarth Soaps. However, when you open
Could someone correct this balance sheet thank you
You have now begun preparing drafts of the financial statements for GreenEarth Soaps. However, when you open up the Balance Sheet you are shocked to see that the accounts are all mixed up You realise this must be corrected before you can finalise the financial statements. The incorrect Balance Sheet is reproduced below. GreenEarth Soaps - Draft Balance Sheet as at 30 June, 2019 Liabilities Assets Current Assets Current Liabilities Advertising expense Drawings Intangibles Prepaid Electricity Insurance Expense Cost of Sales Non-current liabilities Sales revenue Accrued Wages Cash at Bank Property Plant and Equipment Wages Expense Total Liabilities Non-current Assets Owner's Equity Retained Profits Mortgage Rent Expense Vehicles Contributions Bank loan Inventory Accounts receivable Lease expense You have now begun preparing drafts of the financial statements for GreenEarth Soaps. However, when you open up the Balance Sheet you are shocked to see that the accounts are all mixed up You realise this must be corrected before you can finalise the financial statements. The incorrect Balance Sheet is reproduced below. GreenEarth Soaps - Draft Balance Sheet as at 30 June, 2019 Liabilities Assets Current Assets Current Liabilities Advertising expense Drawings Intangibles Prepaid Electricity Insurance Expense Cost of Sales Non-current liabilities Sales revenue Accrued Wages Cash at Bank Property Plant and Equipment Wages Expense Total Liabilities Non-current Assets Owner's Equity Retained Profits Mortgage Rent Expense Vehicles Contributions Bank loan Inventory Accounts receivable Lease expenseStep by Step Solution
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