Bizilia's Inc. was organized on January 1. At the end of the year, an employee with a
Question:
Required
List all of the deficiencies that you can identify in this balance sheet and prepare a proper balance sheet.
Transcribed Image Text:
Bizilia's Inc. Balance Sheet For the Year Ending December 31 Resources Cash Stuff we can sell Land Retained earnings Grand total S 30,000 40,000 53,000 17,000 $146,000 Debts: Money we owe to vendors Contributed capital Grand total 43,000 63,000 S106,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 60% (15 reviews)
Deficiencies in the balance sheet include the following For the year ending December 31 should read ...View the full answer
Answered By
ANDREW KIPRUTO
Academic Writing Expert
I have over 7 years of research and application experience. I am trained and licensed to provide expertise in IT information, computer sciences related topics and other units like chemistry, Business, law, biology, biochemistry, and genetics. I'm a network and IT admin with +8 years of experience in all kind of environments.
I can help you in the following areas:
Networking
- Ethernet, Wireless Airmax and 802.11, fiber networks on GPON/GEPON and WDM
- Protocols and IP Services: VLANs, LACP, ACLs, VPNs, OSPF, BGP, RADIUS, PPPoE, DNS, Proxies, SNMP
- Vendors: MikroTik, Ubiquiti, Cisco, Juniper, HP, Dell, DrayTek, SMC, Zyxel, Furukawa Electric, and many more
- Monitoring Systems: PRTG, Zabbix, Whatsup Gold, TheDude, RRDtoo
Always available for new projects! Contact me for any inquiries
4.30+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
A corporation was organized on January 1. At that time, 10,000 shares of common were sold and issued at $10.00 per share cash. $20,000 of the proceeds was used to purchase equipment. The corporation...
-
The inventory at the end of the year was understated by $23,950. (a) Did the error cause an overstatement or an understatement of the gross profit for the year? (b) Which items on the balance sheet...
-
The inventory at the end of the year was understated by $8,750. (a) Did the error cause an overstatement or an understatement of the gross profit for the year? (b) Which items on the balance sheet at...
-
Given an array, Arr[] of integer numbers have size N. The task is to find out single or consecutive numbers from Arr[] with 0 sum. When found, print "1" otherwise "0". Example-1: Input: 4 (6,-2,3,-1)...
-
What are the characteristics of a data set that would lead you to construct a pie chart?
-
In 1989, Ogle owned two adjoining lots numbered 6 and 7 fronting at the north on a city street. In that year, she laid out and built a concrete driveway along and two feet in front of what she...
-
A safety PLC manufacturer has stated that proof testing includes only physical inspection for deterioration and damage, and a check for unauthorized program changes Detailed test of the programmed...
-
Ki Technology Co. manufactures DVDs for computer software and entertainment companies. Ki uses job order costing. On April 2, Ki began production of 6,000 DVDs, Job 423, for Paradigm Pictures for...
-
Gable Company uses three activity pools. Each pool has a cost driver. Information for Gable Company follows: Activity Pools Total Cost of Pool Machining $ 171,100 Cost Driver Number of machine hours...
-
A owns 100 shares of Humdrum Corporation which he purchased several years ago for $10,000. Humdrum has $12,000 of accumulated earnings and profits. What are the tax consequences to A on the...
-
Muncie Group was organized on January 1. At the end of the year, the company used a first year accounting student to prepare the following income statement: Required List all of the deficiencies that...
-
The Mock Corporation was formed on January 1. At December 31, William Mock, CEO and sole owner, prepared the company's balance sheet as follows: William is not an accountant by trade, and he believes...
-
Sue Enterprises uses a normal job order costing system and a predetermined overhead rate based on machine hours. At the beginning of 2022, Sue estimated the overhead for the year would be $720,000...
-
At the end of the year, Breyer Associates had a credit balance in its allowance for uncollectible accounts of $ 1 4 , 0 0 0 before adjustment. The balance in Breyer's gross accounts receivable is $ 4...
-
What is (f ) '(0)?
-
You are the Head of the HR department at multi- national corporation based out of Singapore. The company has been facing certain code of conduct issues since the last few weeks. The HR department has...
-
Brambles company estimates that annual manufacturing overhead cost will be 8 0 0 , 0 0 0 . Estimated annual operating activity bases are direct labor cost 5 0 0 , 0 0 0 direct labor hours 5 0 , 0 0 0...
-
Shown as follows is a segmented income statement for Drexel-Hall during the current month: Sales Variable costs Contribution margin Traceable fixed costs: controllable Performance margin Traceable...
-
Juan Rodriquez has assigned you the task of requirements determination for the Hoosier Burger project. You are looking forward to this opportunity because it will allow you to meet and interact with...
-
Presented below are income statements prepared on a LIFO and FIFO basis for Kenseth Company, which started operations on January 1, 2024. The company presently uses the LIFO method of pricing its...
-
What are some possible reasons why another organization, such as the Governmental Accounting Standards Board, should not issue financial reporting standards?
-
What are the sources of pressure that change and influence the development of accounting principles and standards?
-
What are the sources of pressure that change and influence the development of accounting principles and standards?
-
What is one way in which a leader can apply the "Status" part of the SCARF model to trigger the "Reward" response?
-
Complete the table to assess risks and develop contingencies for resources you are planning for. Potential risks Planned Response Risk associated with the acquisition or implementation of the...
-
Assignment: persuasive essay for or against Andrew Jackson. In you essay answer the question "Was he a "people's president" or was he more like a king?" Documentary:...
Study smarter with the SolutionInn App