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When it first opened its doors to customers, Garden Basket Ltd. (GBL) was a typical garden centre that sold annuals, perennials, trees, and shrubs. GBL
When it first opened its doors to customers, Garden Basket Ltd. (GBL) was a typical garden centre that sold annuals, perennials, trees, and shrubs. GBL has since added several departments and now offers landscaping services. Today is September 26, 2024. You, CPA, just started a position as GBL's accountant after Barron Garden, GBL's sole shareholder, concluded that he could not keep up with the business and the accounting it requires. Barron indicated in a meeting with you that, due to the expansion of its products and services, GBL has outgrown its current building. Accordingly, GBL purchased the vacant lot next door on which there are plans to construct a second building. GBL's bank has agreed to provide the required financing only after evaluating GBL's audited financial statements as at and for the year ending September 30, 2024
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