Lynn Benedict, the bookkeeper for New York Company, has been trying to get the balance sheet to

Question:

Lynn Benedict, the bookkeeper for New York Company, has been trying to get the balance sheet to balance

InstructionsExplain to Lynn Benedict in a memo why the original balance sheet is incorrect, and what should be done to correctit.

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Accounting Principles

ISBN: 978-0470533475

9th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Sep 20, 2011 07:54 AM

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Lynn Benedict, 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, 2010 Liabilities Assets $25,500 9,000 $26,000 (6,000) (2,000) 10,500 $28.500 Equipment Cash Don Wenger, Capital Accounts receivable Don Wenger, Drawing Supplies Accounts payable 2,000 (8,000) Notes payable $28,500

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To Lynn Benedict 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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