Required:

List 10 deficiencies in the above statement.

Deferred charges: Unamortized bond discount 1.200 Supplies on hand 2,000 Q 1. (20 MARKS) Goodwill 14,000 The following balance sheet for Poh Corporation has a number of formats, classification, and terminology deficiencies. Assume that all the figures are correct. Tota 17,200 Balance Sheet Year Ended December 31, Year 3 Other assets Treasury stock (at cost) $5,500 Assets Total assets $124,500 Current assets Cash in banks $11,800 Equities Due from customers & employees 159,700 Less reserve for uncollectibles 600 Liabilities: Bond sinking fund 15,000 Accrued bond interest expense 3900 Inventories 22,320 Accounts & notes payable 21,000 lotal current assets 58,300 is payable 30,000 Accumulated Other Comprehensive 10,000 Income Property, plant & equipment Total liabilities 61,900 Land & buildings 41,000 Furniture & fixtures 17,500 Used property held for sale 4,000 Net worth: Total 62,500 Common Shares 40,000 Less accumulated depreciation 19.000 Retained earnings 7,600 lotal property and equipment 43.500 Reserve for bond sinking fund 15,000 Total net worth 62,600 equities $124,500 Required: List 10 deficiencies in the above statement