Lynn Benedict, the bookkeeper for London Company, has been trying to get the statement of financial position
Question:
Instructions
Explain to Lynn Benedict in a memo why the original statement of financial position is incorrect, and what should be done to correctit.
Transcribed Image Text:
LONDON COMPANY Statement of Financial Position For the Month Ended December 31, 2011 Assets Liabilities Equipment Cash Supplies £25.500 9.000 2.000 Accounts payable(8.000) 28.500 Share capital ordinary 26.000 Accounts receivabie Retained earnings Notes payable (6.000) (2.000) 0.500 £28.500
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To Lynn Benedict From Student I have received the statement of financial position of London Company ...View the full answer
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Mugdha Sisodiya
My self Mugdha Sisodiya from Chhattisgarh India. I have completed my Bachelors degree in 2015 and My Master in Commerce degree in 2016. I am having expertise in Management, Cost and Finance Accounts. Further I have completed my Chartered Accountant and working as a Professional.
Since 2012 I am providing home tutions.
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Related Book For
Financial accounting
ISBN: 978-1118285909
IFRS Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
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