Perfect landscaping prepared ?company balance sheet

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Reference no: EM133674901

The bookkeeper of Perfect Landscaping prepared the? ?company's balance sheet while the accountant was ill. The balance sheet 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 in this statement. Prepare a corrected balance sheet. ?(If a box is not used in the table leave the box? ?empty; do not select a label or enter a? ?zero.) ?Perfect Landscaping

Balance Sheet

Month Ended December 31, 2024

Assets Liabilities

Cash $5,300 ? Accounts Receivable $2,100

Office Supplies 700 ? Dividends 8,000

Land 34,300 ? Service Revenue 41,000

Salaries Expense 3,200 ? Property Tax Expense 2,700

Office Furniture 6,500 ? Accounts Payable 2,500

Notes Payable 24,100 ? Retained Earnings 3,075

Rent Expense 275 ? Stockholders' Equity

Common Stock 15,000

Total Assets $74,375 ? Total Liabilities $74,375

Reference no: EM133674901

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