Question: List any errors you can find in the following partial balancesheet: Napa Vino Company Balance Sheet December 31, 2014 Assets Current assets: $ 78,500 4500

List any errors you can find in the following partial balancesheet:

Napa Vino Company Balance Sheet December 31, 2014 Assets Current assets: $ 78,500 4500 295,500 11,500 1,211,500 Cash Notes receivable $ 300,000 Less interest receivable Accounts receivable 1,200,000 Plus allowance for doubtful accounts

Step by Step Solution

★★★★★

3.35 Rating (161 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

1 The interest receivable should be reported separately as a current asset It should not be dedu... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

278-B-A-C-R (1927).docx

120 KBs Word File

Students Have Also Explored These Related Accounting Questions!

List any errors you can find in the following partial balancesheet: Jennett Company Balance Sheet December 31, 2010 Assets Current assets: Cash Notes receivable Less interest receivable $ 95,000...

List any errors you can find in the following partial balancesheet. Mishkie Company Balance Sheet December 31, 2007 Assets Current assets: Cash Notes receivable $400,000 24,000 $529,200 42,000...

I need some *((familiar with Integrated Audit Practice case assignments))* to help me complete this assignment as soon as possible. There is each worksheet that needs to complete missing information....

Help with C-F with work show. zoom in to see better. Excel File Edit View Insert Format Tools 43 64% (4) Thu 2:06 PM Q AutoSave OFF HESU- Data Window Help Advanced Accounting - Consolidation Case...

List any errors you can find in the following partial balance sheet: Napa Vino Company Balance Sheet December 31, 20Y6 Assets Current assets: 78,500 Cash Notes receivable Interest receivable 300,000...

I have already set up the journal entries and adjusted entries but i need help setting up the trial balance. please help CAPTAIN FISHING INC. BALANCE SHEET DECEMBER 31, 2014 Current Assets Cash...

Hello, i have already made the journal entries. So i need the Adjusted entries please. im having issues setting them up. CAPTAIN FISHING INC. BALANCE SHEET DECEMBER 31, 2014 Current Assets Cash...

List any errors you can find in the following partial balance sheet: Napa Vino Company Balance Sheet December 31, 2016 Assets Current assets: Cash $ 78,500 $ 300,000 Notes receivable Less interest...

29 West 36th Street Fifth Floor New York, NY 10018 Tel 212.555.1212 Fax 212.555.1212 NEWCO The Internet is Calling. Proprietary Information: Do Not Distribute his document is subject to a...

John has taken $35,000 loan this year. In order to pay it back, John plans to set aside $6,500 a year, at the end of each of the next two years (year 1 and year 2), then $7,500 a year in the...

According to a 2018 report from the Center for Disease Control and Prevention (CDC), the average heights of adult women and men were 161.5 cm and 175.4 cm, respectively. Assume the heights follow,...

identifying two ( 2 ) barriers to community participation and two ( 2 ) barriers to social inclusion for each type of barrier listed. discrimination

A thermometer of mass 0.055 kg and heat capacity 46.1 J/K reads 15.0C. It is then completely immersed in 0.300 kg of water and it comes to the same final temperature as the water. If the thermometer...

Is it possible to incorporate any kind of dance into dance exercise? Why did you say so?

Special Report for the Board of Directors- International Business Opportunities: As Vice President, one of your jobs is to make presentations to the companys Board of Directors. You have a meeting...

Suppose that you have in your possession bivariate data giving birthrate and life expectancy information for a random sample of 15 countries. For each of the countries, the data give both x, the...

8. When you submit a risk report to top management, what is the most effective way of breaking through complacency about risk and persuading leaders to address identified risks? A. Keep it simple:...

A company reports the following: Net income.......................................$1,000,000 Preferred dividends..................................50,000 Average stockholders'...

please answer 2. and 3. Question 5 2/4 pts ) 8-10 4 0 Details Score on last try: 2 of 4 pts. See Details for more. Get a similar question You can retry this question below A hospital wants to...

An investment offers a total return of 12 percent over the coming year. Alex Hamilton thinks the total real return on this investment will be only 9 percent. What does Alex believe the inflation rate...

Graph theinequalitybelow on thenumber line. y>3