ACCOUNTING
P1-31A pg. 41 and P1-42B pg. 47.xlsx

P1-31A pg. 41 and P1-42B pg. 47.xlsx - Strides Inc Balance...

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Strides Inc. Balance Sheet 31-Jul-17 Assets Liabilities Cash $ 25,000.00 Accounts Payable $ 16,000.00 Accounts Recievable $ 20,000.00 Note Payable $ 9,000.00 Store Fixtures $ 10,000.00 Total Liabilities $ 25,000.00 Land $ 44,000.00 Shareholders' Equity Shareholders' Equity $ 74,000.00 Total Assets $ 99,000.00 Total Liabilities and Shareholders' Equity $ 99,000.00 2) They are worst off because their total assets is less than the erroneous balance sheet It could also be said that they are better off because Shareholders own more of their assets than the cred Rent Expense These are all non asset/liability/SE accounts Salaries Expense They should appear on the income statement Advertising Expense Sales Revenue Interest Expense
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itors
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Mechanics Ltd. Income Statement Year ended December 31, 2017 Revenue Service Revenue $ 210,000.00 Total Revenue $ 210,000.00 Expenses Interest Expense $ 4,000.00 Rent Expense $ 6,000.00 Advertising Expense $ 10,000.00 Salary Expense $ 85,000.00 Property Tax Expense $
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