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Please correct the mistakes in the given balance sheet and present the new corrected balance sheet. Please also explain why certain accounts shouldnt be included
Please correct the mistakes in the given balance sheet and present the new corrected balance sheet. Please also explain why certain accounts shouldnt be included in the balance sheet.
Verify the following balance sheet.. ASSETS Tangible fixed assets Long-term financial assets Financial revenue Paid tax liability Cash in hand Short-term liabilities. Supplementary capital Cash in bank Goods for resale Finished goods Total assets Balance sheet of BETA as at 31.12 200X 36,000 Depreciation 4,000 Share capital 5,000 Long-term bank loan 18,000 Note (bill of exchange) received 8,000 Change in inventories of materials 23,000 Net profit 17,000 Trade receivables 2,000 Tax liabilities 6,000 Issued bill of exchange 5,000 124,000 Total equity & liabilities EQUITY AND LIABILITIES 14,000 20,000 5,000 11,000 9,000 10,000 8,000 2,000 3,000 82,000Step by Step Solution
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