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Posted: April 20th, 2022
Need Accounting help with assets and liabilities
Question Assignment description
The present assets and present liabilities sections of the stability sheet of Allessandro Scarlatti Firm seem as follows.ALLESSANDRO SCARLATTI COMPANYBALANCE SHEET (PARTIAL)DECEMBER 31, 2014Money $ 44,980Accounts payable$ 62,970Accounts receivable$93,380 Notes payable71,970 Much less: Allowance for uncertain accounts7,61085,770 $134,940Stock 179,050 Pay as you go bills 9,600 $319,400The next errors within the company’s accounting have been found:1.January 2015 money disbursements entered as of December 2014 included funds of accounts payable within the quantity of $41,500, on which a money low cost of two% was taken.2.The stock included $31,500 of merchandise that had been obtained at December 31 however for which no buy invoices had been obtained or entered. Of this quantity, $11,400 had been obtained on consignment; the rest was bought f.o.b. vacation spot, phrases 2/10, n/30.three.Gross sales for the primary 4 days in January 2015 within the quantity of $32,250 had been entered within the gross sales journal as of December 31, 2014. Of those, $22,810 had been gross sales on account and the rest had been money gross sales.four.Money, not together with money gross sales, collected in January 2015 and entered as of December 31, 2014, totaled $37,212. Of this quantity, $25,872 was obtained on account after money reductions of two% had been deducted; the rest represented the proceeds of a financial institution mortgage.Calculate the next adjusted balances.Money Accounts Receivable Stock Accounts Payable Notes Payable MUST SHOW WORK!!!
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