1. Your Name Designs Companys bookkeeper resigned on September 30, 2021 and your team has been hired to come in and correct and complete the Profit and Loss statement and Balance Sheet for September of 2021. Assume that no adjusting entries will be recorded until October 31, 2021 so you can ignore them for this assignment.
2. Review the income statement, balance sheet and chart of accounts and correct the errors. No Journal entries are required to correct the mistakes.
3. A written explanation of which accounts were classified incorrectly and how they should be classified.
4. Corrected Profit and Loss Standard report for the period ended September 30, 2021.

Your Name Designs Profit & Loss September 30, 2021 Sep 30, 21 -3,000.00 -3,000.00 Ordinary Income/Expense Income 49900 - Uncategorized Income Total Income Expense 6500. Utilities Expense 6900 - Telephone Exepnse 69800 . Uncategorized Expenses Total Expense Net Ordinary Income Net Income 150.00 95.00 -3,000.00 -2,755.00 -245.00 -245.00 Your Name Designs Balance Sheet As of September 30, 2021 Sep 30,21 TASSETS Current Assets Checking Savings 1010-123 Bank 44,950.004 Total CheckingSavings 44,950.00 Accounts Receivable 11000 Accounts Receivable 14 310.00 Total Accounts Receivable 14310.00 Other Current Assets 1400 Prepaid Advertising 2.400.00 1500 - Computer Supplies 2,000.00 1600 Office Supplies 1.750 00 4010. Consulting Income 3.660.00 Total Other Current Assets 2.490 00 Total Current Assets 61,750.00 Fixed Assets 1700 Furniture and Equipment 12,000.00 Total Fixed Assets 12,000.00 TOTAL ASSETS 73,750.00 LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable 20000 - Accounts Payable 21 970 00 Total Accounts Payable 21970.00 Other Current Liabilities 1300 - Prepaid Rent 6.000.00 4020 Design Income 3,150 00 Total Other Current Liabilities 2,850.00 Total Current Liabilities 19,120 00 Long Term Liabilities 6360 - Online Expense 75.00 Total Long Term Liabilities -75.00 Total Liabilities 19.045.00 Equity 3010 - Your Name, Capital 54,500.00 Net Income 205.00 Total Equity 54,705 00 TOTAL LIABILITIES & EQUITY 73,750.00 Your Name Design Secondary QuickBookstorp 2001-Chart of yeyote Lootoutube Search Reset . A Our Out Feed 14 451000 000 2.400 2.000.00 1500 1.000.00 2.000.00 000 2 4000 000 22:15 39.00 400 06 Our Our Ohh Long El 1010 123 - 11000 Account Recepti - 12000 Undeps Funds 1400 Prod Adrian -1500 Computer toples -1000 Oct -4010 Core income 1700 Furniture and open -1780 Accumulated Deprecation 20000 Art -1300 Pepe Rent 24000 Pro Labs 400 Dincome .6350 Online Expert 3010 - Your Name Call -3030 Your Name Drawing - 3100 Owner - 1300 Pepide .49900 Uncategorie com .6020 Pessionals -2020 Nos Payable 600 Expense 100 Went -1.600 W 6600 cele 6000 Pro -6700 Advertising and 6000 Depresseur 00 Bar Charge 6000 Telephone Expres 6000 goed Expenses 00000 Aur My Account w E E En Your Name Designs Statement of Financial Income and Expense September 30, 2021 Unclassified TOTAL Ordinary Income/Expense Income 49900 - Uncategorized Income -3.000.00 13,000.00 Total Income -3,000.00 -3,000.00 Expense 6500 - Utilities Expense 150.00 150.00 6900 - Telephone Exepnse 95.00 95.00 69800 - Uncategorized Expen... -3,000.00 -3,000.00 Total Expense -2,755.00 -2,755.00 Net Ordinary Income -245.00 -245.00 Net Income -245.00 -245.00