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San Diego State University Operations And Supply Chain Management Assignment Help - Financial statements


Question - The following Classified Balance Sheet has numerous errors. Indicate the errors in this Balance Sheet by preparing a corrected Classified Balance Sheet with all required information. Assets, Liailities and Net Worth Building, at cost $18000 Accumluated Depreciation $4500 Land, appraised value $9000 Note Payable (due 2015) $5000 Inventory, retail price $10000 Wages payable $2100 Capital Stock $12000 Accounts receivable $2500 Retained Earnings $3500 Accounts payable ($3600) Total Liabilities $27100 Cash $2200 Amount needed to balance $11000 Total Assets $38100 Total Liab. and Net Worth $38100 Additional Information: Land has an original cost of $3,000 and inventory cost the company $5,000.

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