Exercise 1-13

Lynn Dreise is the bookkeeper for Sanculi Company SpA. Lynn has been trying to get the statement of financial position of Sanculi Company SpA to balance. Sanculis statement of financial position is shown below.

SANCULI COMPANY SpA Statement of Financial Position December 31, 2017
Assets				Liabilities
Equipment		70,114		Share capitalordinary		73,036
Supplies		11,686		Retained earnings		25,562
Cash		20,450		Accounts payable		29,214
Dividends		13,146		Accounts receivable		(12,416	)
Total assets		115,396		Total equity and liabilities		115,396

Prepare a correct statement of financial position.