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You and your friend Jazzy from HGV 4 5 4 have been studying for the final exam. Jazzy is very uncertain about the structure of
You and your friend Jazzy from HGV have been studying for the final exam. Jazzy is very uncertain about the structure of the balance sheet and shows you a practice balance sheet, provided below. Jazzy could not get the balance sheet to balance. You are told that the retained earnings amount was changed to make the assets equal the liabilities plus equity BUT you both know the retained earnings number is WRONG! You see right away that there are several errors on the statement.
PLEASE ANSWER ALL QUESTIONS, I WILL UPVOTE, SHOW MATH AND PLEASE SHOW THE ANSWER, THANK YOU.
What is the correct heading for this statement? mark
A Excellent Computer Systems; Year Ended December ; Balance Sheet
B Balance Sheet; December ; Excellent Computer Systems
C Balance Sheet; Excellent Computer Systems; Year Ended December
D December ; Balance Sheet; Excellent Computer Systems
E Excellent Computer Systems; Balance Sheet; December
F The current heading is correct.
Enter the letter corresponding to your choice A B C D E F
What is the correct amount of current assets?
What is the correct amount of longlived assets?
What is the correct amount of total assets?
What is the correct amount of current liabilities?
What is the correct amount of longterm liabilities?
What is the correct amount of total liabilities?
What is the correct amount of equity?
What is the correct amount of retained earnings?
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