The manager of Media Maker, Inc prepared the company's balance sheet as of December 31, 2016 whie the accountant was The balance sheet contains numerous enors In particular the manager knew that the baance sheet shoud atance se sher plugged in the stockholders equity amount needed to achieve this balance. The stocknoldens equty amount is not coedt Al other amounts are accurate Icck the con to view the managers baance sheet Requirements Prepare the comrect balance sheet and date it propeerty Compute tota assets, total labibes and stocinolders equty Is Media Maker actually in better (or worse) teancial postion than the eoneous balance sheet reports ve the reason for your aniwer Identty the accounts sted on the incomect balance sheet that should not be repoted on the halance sheet Stte why voueedaded them tom the comect baiance sheet you prepared for Requrement 1 On which trancial statement should these accounts appear? 2. 3. and stocinoien equty Do rot closty the batance sheet into curent and long-tm sections ifa bor is not used in the bance sheet ie Requirement 1. Prepare the comect balance sheet and dabe it property Compule total assets, tobl the box empty do not select a label or enter a zerd Assets Liabilities Stockholders' Equity Requirement 2. Is Media Maker actually in better (or worse) financial position than the erroneous balance sheet reports? Give the reason for your answer Media Maker ik in financial position because stockholders equity has by S and liabilities have by S Requirement 3. Identify the accounts listed on the incomect balance sheet that should not be reported on the balance sheet. State why you excluded them from the comreet balance sheet you prepared The accounts that are not on the balance sheet are Y These accounts are listed on the The accounts that are left off of the balance sheet are excluded because they are The manager of Media Maker, Inc., prepared the company's balance sheet as of December 31, 2016, while the accountant was ill. The balance sheet contains numerous errors. In particular, the manager knew that the balance sheet should balance, so she plugged in the stockholders' equity amount needed to achieve this balance. The stockholders' equity amount is not correct. All other amounts are accurate. (Click the icon to view the manager's balance sheet.) cLounts aD DOui ol De lepuned the balance sheet. State why you exdluded th Assets Liabilities Stockholders' Equity Requirement 2. Is Media Maker actually in better (or worse) financial position than the erroneous balance sheet reports? Give the reason for you Media Maker financial position because stockholders equity has by $ and IS in liabilities have by S Requirement 3. Identify the accounts listed on the incorrect balance sheet that should not be reported on the balance sheet. State why you excluded them from the correct balance sheet should these accounts appear? The accounts that are not on the balance sheet are The accounts that are left off of the balance sheet are excluded because they are These accounts are listed on the
