Accountant and owner of Quick Renovations, C. Cloud had to go out of town to inspect a
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Question:
Accountant and owner of Quick Renovations, C. Cloud had to go out of town to inspect a job site. Thus, he asked his cousin, Joseph Jordan, to prepare Quick Renovations’ December 31, 2018 balance sheet. Joseph Jordan had no knowledge of accounting, but he did know that the balance sheet had to balance; therefore, in order to accomplish this, he had to use a plugged figure for owner’s equity. The other accounts have the correct balances, but the totals may not be correct.
Required:
Prepare the correct December 31, 2018 balance sheet of Quick Renovations.
Related Book For
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1133161646
7th Edition
Authors: Gary A. Porter, Curtis L. Norton
Posted Date: