Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

For this assessment please review the following balance sheet and point out all the mistakes you find. Accounting Ninjas, LLC Balance Sheet September 30.201 Wels

image text in transcribed
image text in transcribed
For this assessment please review the following balance sheet and point out all the mistakes you find. Accounting Ninjas, LLC Balance Sheet September 30.201 Wels Farge Cheking Wells Farge Savings 93.000 Total Accounis Rec 2 000 Total Fixed Assets 334 000 0 Security Degosit TOTAL ASSETS LIABILITIES AND EQURTY Current Liablities Accounts Payabio Accounts Payabie Total Acounts Payable Credit Cards American Express Wols Farge Chase 2.000 00 TO0 00 Total Credit Cards 800.00 Other Current Liabiities Chaso Loa sce sea 0 Wells Fargo Savings 42 000 00 500 c0 $50.500.00 544,300 00 Payrol Liabilsies Salos Tax Expense Total Other Current Liabilties Total Current Liabilities Long-Teem Liabilities Notes Payable Vehicle Total Long-Term Liabiliies 38.000 00 38.000.00 2,300.00 Total Liablitios Equity Common Stock Retained Earnings Shareholdar's Distributions Net Income 500 00 300 300 00 5.000 00 10.000 00 $ 274,000.00 304.300.00 Total Equity TOTAL EQUITY For this assessment please review the following balance sheet and point out all the mistakes you find. Accounting Ninjas, LLC Balance Sheet September 30. 2018 Current Assets Wells Fargo Cheking Wels Fargo Saving 28.000 00 93.000.0 25 000 00 Accounts Receivabie Total Accounts Receivable 25.006. Computensotware 2.000 Depreciation Expense Equipment 2.0000 2340000 24.000 Securay Daposia TOTAL ASSETS LIA BAUTIES AND EQUITY 303.500 oo Liabilities Current Liabilitles Accounts Payable Accounts Payable 13 .000 00 Total Acounis Payable 13,000.00 Credit Cards 2.000.00 1.700 00 6 500.00 6,800.00 American Expross Welis Fargo Chase Total Credt Cards Other Current Liabifitiers Chase Loan :050.20 2000 00 Wols Fargo Savings Payrol Liabilities Sales Tax Expense Total Other Current Liablities 5 550,540.00 S 544,300 00 Total Current Liabiities Long-Term Liabilities Notes Payable 38.000 00 38,000.00 52,300.00 Vehicle Tenm Liabilities Total Long Total Liabiities Equity 1 0c0.00 300 300 00 15.000 00 0.000.00 n Stock Retained Eannings 3 74900.00 Not Income Total Equity TOTAL EQUITY 300.00 For this assessment please review the following balance sheet and point out all the mistakes you find. Accounting Ninjas, LLC Balance Sheet September 30.201 Wels Farge Cheking Wells Farge Savings 93.000 Total Accounis Rec 2 000 Total Fixed Assets 334 000 0 Security Degosit TOTAL ASSETS LIABILITIES AND EQURTY Current Liablities Accounts Payabio Accounts Payabie Total Acounts Payable Credit Cards American Express Wols Farge Chase 2.000 00 TO0 00 Total Credit Cards 800.00 Other Current Liabiities Chaso Loa sce sea 0 Wells Fargo Savings 42 000 00 500 c0 $50.500.00 544,300 00 Payrol Liabilsies Salos Tax Expense Total Other Current Liabilties Total Current Liabilities Long-Teem Liabilities Notes Payable Vehicle Total Long-Term Liabiliies 38.000 00 38.000.00 2,300.00 Total Liablitios Equity Common Stock Retained Earnings Shareholdar's Distributions Net Income 500 00 300 300 00 5.000 00 10.000 00 $ 274,000.00 304.300.00 Total Equity TOTAL EQUITY For this assessment please review the following balance sheet and point out all the mistakes you find. Accounting Ninjas, LLC Balance Sheet September 30. 2018 Current Assets Wells Fargo Cheking Wels Fargo Saving 28.000 00 93.000.0 25 000 00 Accounts Receivabie Total Accounts Receivable 25.006. Computensotware 2.000 Depreciation Expense Equipment 2.0000 2340000 24.000 Securay Daposia TOTAL ASSETS LIA BAUTIES AND EQUITY 303.500 oo Liabilities Current Liabilitles Accounts Payable Accounts Payable 13 .000 00 Total Acounis Payable 13,000.00 Credit Cards 2.000.00 1.700 00 6 500.00 6,800.00 American Expross Welis Fargo Chase Total Credt Cards Other Current Liabifitiers Chase Loan :050.20 2000 00 Wols Fargo Savings Payrol Liabilities Sales Tax Expense Total Other Current Liablities 5 550,540.00 S 544,300 00 Total Current Liabiities Long-Term Liabilities Notes Payable 38.000 00 38,000.00 52,300.00 Vehicle Tenm Liabilities Total Long Total Liabiities Equity 1 0c0.00 300 300 00 15.000 00 0.000.00 n Stock Retained Eannings 3 74900.00 Not Income Total Equity TOTAL EQUITY 300.00

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

Step: 3

blur-text-image

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

Managerial Accounting Wileyplus Blackboard Student Package

Authors: Charles E. Davis, Elizabeth Davis

3rd Edition

1119342511, 978-1119342519

More Books

Students also viewed these Accounting questions

Question

Define Decision making

Answered: 1 week ago

Question

What are the major social responsibilities of business managers ?

Answered: 1 week ago

Question

What are the skills of management ?

Answered: 1 week ago

Question

5. Identify three characteristics of the dialectical approach.

Answered: 1 week ago

Question

7. Identify six intercultural communication dialectics.

Answered: 1 week ago