Question: Please help me correct the incorrect entries Near the end of 2017, the management of Dimsdale sheet for December 31, 2017 Sports Co, a merchandising
Near the end of 2017, the management of Dimsdale sheet for December 31, 2017 Sports Co, a merchandising company, prepared the following estimated balance l DIMSDALE SPORTS COMPANY Estimated Balance Sheet December 31, 2017 Assets $ 36,000 525,000 150,000 Cash Accounts receivable Inventory Total current assets Equipment Lesss accumulated depreciation $ 711,000 540,000 67,500 Equipment, net Total assets 472,500 1,183,500 Liabilities and Equity Accounts payable Bank loan payable Taxes payable (due 3/15/2018) Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and equity 360,000 15,000 90,000 $465,000 472,500 246,000 718,500 $1,183,500 Near the end of 2017, the management of Dimsdale sheet for December 31, 2017 Sports Co, a merchandising company, prepared the following estimated balance l DIMSDALE SPORTS COMPANY Estimated Balance Sheet December 31, 2017 Assets $ 36,000 525,000 150,000 Cash Accounts receivable Inventory Total current assets Equipment Lesss accumulated depreciation $ 711,000 540,000 67,500 Equipment, net Total assets 472,500 1,183,500 Liabilities and Equity Accounts payable Bank loan payable Taxes payable (due 3/15/2018) Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and equity 360,000 15,000 90,000 $465,000 472,500 246,000 718,500 $1,183,500
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