Examine the balance sheet for Out of Africa. Make any changes that you believe are necessary for a proper presentation, and then prepare a corrected balance sheet

Out of Africa
Balance Sheet
For the Month Ended October 31, 2012

Assets Liabilities

Accounts payable $ 1,850 Accounts receivable $2,700
Retained earnings 21,650
Store equipment 15,000 Shareholders' equity
Inventory 8,950 Cash 6,850
Contributed capital 10,000
Total assets 25,800 Total liabilities and shareholders' equity 19,550

Out of Africa
Balance Sheet
October 31, 2012

Assets Liabilities

Cash $ 6,850 Accounts payable $1,850
Accounts receivable 2,700
Inventory 8,950 Shareholders' equity
Store equipment 15,000 Common stock $10,000
Retained earnings 21,650
_______ Total Shareholders' equity $31,650
Total assets $33,500 Total liabilities and shareholders' equity $33,500

Business

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Which of the following statements is true of the AIDA model?

a. It explains why public relations is the most important element in a promotional mix. b. It explains how all promotions influence purchase decisions. c. It discusses how consumers respond to marketing messages. d. It talks about marketing activities other than advertising, personal selling, and public relations.

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For exchanges of plant assets with commercial substance, the new asset received will be recorded at its market value

Indicate whether the statement is true or false

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