Hello, you answered this question on June 10. Please can you send me a copy.:

The accountant for ABC Corporation resigned late in December, and so a relatively inexperienced bookkeeper was asked to results shown below. You are assigned to prepare a correct set of financial statements on the tab "corrected statements". and explain briefly why each constituted an error. Statement of cash flows and statement of owners' equity have intentionally been omitted, and should not be prepared. Retained earnings as of 1/1/15 was $201,000. Income tax is to be accrued at the rate of 30%. Otherwise there are no missing accounts. ABC Corporation Income Statement For Year Ended December 31, 2015 ABC Corporation Balance Sheet For Year ended December 31, 2015 Sales Inventory Gross margin 3,000,000 276,000 Depreciation expense Rent expense Dividends Expense Salaries expense Cost of goods sold Utilities expense Other operating expense Total operating expenses 21,000 48,000 20,000 482,000 2,100,000 17,000 20,000 Operating income Interest expense Net income 2,724,000 Cash Treasury Stock Accounts receivable Allowance for bad debts Investments Prepaid rent 2,708,000 16,000 12,000 4,000 Notes payable (due in three years) Equipment Restructuring costs Inventory Total long-term assets Total Assets ookkeeper was asked to prepare the annual financial statements, with the unfortunate corrected statements". On the "errors" tab, enumerate the errors made by the bookkeeper, uld not be prepared. mber 31, 2015 40,000 10,000 160,000 (8,000) Accumulated depreciation Accounts payable 110,000 120,000 Total current liabilities 230,000 119,000 350,000 30,000 Common stock Retained earnings 60,000 201,000 276,000 775,000 Total Liabilities & Equity 392,280 152,000 20,000 12,000 three years) 1,009,000