Explore BrainMass
Share

Financial Statements

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

Your task is to prepare an income statement and a balance sheet in good format after adjusting for the two errors below.

1 - A physical count of inventory indicates $75,000 on hand.
2 - There's a check for $10,000 from a customer that has not been recorded in the working trial balance. The check is payment for a purchase made two weeks ago.

© BrainMass Inc. brainmass.com October 17, 2018, 4:23 am ad1c9bdddf
https://brainmass.com/business/financial-statements/financial-statements-459808

Attachments

Solution Summary

Detailed information on creating the income statement and balance sheet

$2.19
Similar Posting

Provide an example of how the financial statements are articulated

Provide an example of how the financial statements are articulated.

View Full Posting Details