Ashley Hirano, the bookkeeper for New York Company, has been trying to get the balance sheet to

Question:

Ashley Hirano, the bookkeeper for New York Company, has been trying to get the balance sheet to balance. The companyâ€™s balance sheet is shown below.

Instructions
Explain to Ashley Hirano in a memo why the original balance sheet is incorrect, and what should be done to correctit.

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Accounting Principles

ISBN: 9781118566671

11th Edition

Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso

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Question Posted: Jan 30, 2014 12:56 AM

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Ashley Hirano, the bookkeeper for New York Company, has been trying to get the balance sheet to

Question:

NEW YORK COMPANY Balance Sheet For the Month Ended December 31, 2014 Assets Liabilities Equipment Cash Supplies Accounts payable $25,500 9,000 2,000 (8,000) $28,500 Owners capital Accounts receivable Owners drawings Notes payable $26,000 (6,000) (2,000) 10,500 $28,500

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To Ashley Hirano From Student I have received the balance sheet of New York Company as of December 3...View the full answer

Accounting Principles

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