INTERMEDIATE FINANCIAL REPORTING $1$

UNIT $5$ TASK$-$BASED SIMULATION #$2$

Simulation $(15$ minutes$)$

Best Taco Eats Ltd$.($BTE$)$ is a private company that owns and operates a chain of restaurants. The restaurants are open for lunch and dinner and are also available for parties and events. BTE follows ASPE in preparing its financial statements.

Harriet Waters is an accountant who works as a consultant and is currently helping to prepare BTE$$s financial statements for the year ended December $31,$ Year $1.$

The following documents are attached:

$$Appendix I: BTE$$s corporate structure and shareholders$$Appendix II: Email from Jamal Khaira, CFO

Complete the tasks in the Excel Task file.