Question
You are a staff accountant at a local CPA firm.Mymess Inc is an important client that has brought in its general ledger in order to
You are a staff accountant at a local CPA firm.Mymess Inc is an important client that has brought in its general ledger in order to have a compilation of its financial statements prepared. As a first step, you have asked a new employee, Sam Klutz, to construct an income statement and balance sheet.The results of Sam's work are presented below and on the next page.You have been tasked with reviewing Sam's work, and construct a memo to him.Your memo should identify each of the errors you find.You do not need to construct adjusting entries.However, you do need to explain the proper GAAP treatment for each item.
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