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Saved Help Sev Eyelash Extension Company's liabilities as reported on the June 30, 2023, balance sheet are shown below, along with its statement c
Saved Help Sev Eyelash Extension Company's liabilities as reported on the June 30, 2023, balance sheet are shown below, along with its statement c changes in equity. Accounts payable Notes payable, due 2025 ed Total liabilities $179,700 483,000 $662,700 Eyelash Extension Company Statement of Changes in Equity For Year Ended June 30, 2023 Jan Suzette, capital, June 30, 2022 Add: Profit Total Less: Withdrawals Jan Suzette, capital, June 30, 2023 $484,000 196,700 $680,700 285,300 $395,400 Jan is selling the business. A potential buyer has hired an accountant to review the accounting records and the following was discovered: a. Eyelash Extension Company began selling a new product line this past year that offered a warranty to customers. It is expected the $48.300 of warranty work will result next year based on first-year sales. No entry was prepared on June 30 to show this Drou Moxt Assignment Less: Withdrawals 285,300 1 Jan Suzette, capital, June 30, 2023 $395,400 Saved Help Save & Exit Skipped Jan is selling the business. A potential buyer has hired an accountant to review the accounting records and the following was discovered: a. Eyelash Extension Company began selling a new product line this past year that offered a warranty to customers. It is expected that $48,300 of warranty work will result next year based on first-year sales. No entry was prepared on June 30 to show this b. Annual property taxes of $20,700 are due July 31, 2023, the income statement shows only one month of property expense resulting from an entry correctly recorded on July 31, 2022 c. Interest on the notes payable is paid quarterly. No entry has been recorded since the last quarterly payment of $9,000 on May 1 2023. d. $16,500 of new office furniture was purchased on account and received on June 28. This transaction has not been recorded e. Unearned revenue of $21.300 has been included on the income statement. Required: Using the information provided, prepare a corrected statement of changes in equity and liabilities section of the balance sheet. Ignore PSTIGST (Round your intermediate calculations and final answers to the nearest whole dollar.) EYELASH EXTENSION COMPANY Statement of Changes in Equity For Year Ended June 30, 2023 Mc Graw Prau Novt Module 3: Assignment 1 Skipped 2023. d. $16,500 of new office furniture was purchased on account and received on June 28. This transaction has not been recorded e. Unearned revenue of $21,300 has been included on the income statement. Required: Using the information provided, prepare a corrected statement of changes in equity and liabilities section of the balance sheet. Ignore PST/GST. (Round your intermediate calculations and final answers to the nearest whole dollar) EYELASH EXTENSION COMPANY Statement of Changes in Equity For Year Ended June 30, 2023 Total 0 odule 3: Assignment 1 Skipped EYELASH EXTENSION COMPANY Partial Balance Sheet June 30, 2023 Liabilities Current liabilities: Total current liabilities Non-current liabilities: $ 0 Total liabilities $ 0 Saved
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