Homework Help is Here – Start Your Trial Now!
Business
Accounting
JUNIPER LANDSCAPING Balance Sheet Month Ended July 31, 2018 Assets Liabilities $ 5,300 Accounts Receivable 800 Dividends 34,500 Service Revenue 3,200| Рroperty Tәх Expense Cash $ 1,800 Office Supplies 14,000 Land 38,000 Salaries Expense 3,300 Office Furniture 6,300 Accounts Payable 2,700 24,700 Retained Earnings Notes Payable 5,300 Rent Expense Stockholders' Equity 300 Common Stock 10,000 $ 75,100 Total Liabilities Total Assets 5 75,100

JUNIPER LANDSCAPING Balance Sheet Month Ended July 31, 2018 Assets Liabilities $ 5,300 Accounts Receivable 800 Dividends 34,500 Service Revenue 3,200| Рroperty Tәх Expense Cash $ 1,800 Office Supplies 14,000 Land 38,000 Salaries Expense 3,300 Office Furniture 6,300 Accounts Payable 2,700 24,700 Retained Earnings Notes Payable 5,300 Rent Expense Stockholders' Equity 300 Common Stock 10,000 $ 75,100 Total Liabilities Total Assets 5 75,100

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Preparing financial statements

The bookkeeper of Juniper landscaping prepared the company’s balance sheet while the accountant was ill. The balance sheet, shown on the next page, contains numerous errors. In particular, the bookkeeper knew that the balance sheet should balance, so he plugged in the retained earnings amount needed to achieve this balance. The retained earnings is incorrect All other amounts are correct, but some are out of place or should not be included on this statement. Prepare a corrected balance sheet.

 

JUNIPER LANDSCAPING Balance Sheet Month Ended July 31, 2018 Assets Liabilities $ 5,300 Accounts Receivable 800 Dividends 34,500 Service Revenue 3,200| Рroperty Tәх Expense Cash $ 1,800 Office Supplies 14,000 Land 38,000 Salaries Expense 3,300 Office Furniture 6,300 Accounts Payable 2,700 24,700 Retained Earnings Notes Payable 5,300 Rent Expense Stockholders' Equity 300 Common Stock 10,000 $ 75,100 Total Liabilities Total Assets 5 75,100
Transcribed Image Text:JUNIPER LANDSCAPING Balance Sheet Month Ended July 31, 2018 Assets Liabilities $ 5,300 Accounts Receivable 800 Dividends 34,500 Service Revenue 3,200| Рroperty Tәх Expense Cash $ 1,800 Office Supplies 14,000 Land 38,000 Salaries Expense 3,300 Office Furniture 6,300 Accounts Payable 2,700 24,700 Retained Earnings Notes Payable 5,300 Rent Expense Stockholders' Equity 300 Common Stock 10,000 $ 75,100 Total Liabilities Total Assets 5 75,100
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Accounting Changes and Error Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS