Worksheet the night manager of dix ie trans portation

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Unformatted text preview: & Owners' Equity Liabilities : Accounts payable e z to.mhe c gr a w- hill.c om/hm_a c c ounting.tpx? todo= pr intvie w $ 69,000 70,000 80,000 165,000 70,000 14,000 $ 468,000 $ 26,000 5/7 11/18/13 Assignme nt Pr int Vie w Notes payable Total Liabilities Owners ' equity : Capital stock Retained earnings Total Liabilities & Owners ' Equity 288,000 $ 314,000 92,000 62,000 $ 468,000 rev: 06_15_2012 Learning Objective: 02­04 Explain how the statement of financial position, often referred to as the balance sheet, is an expansion of the basic accounting equation. Worksheet The night manager of Dix ie Trans portation Serv ic e, who had no ac c ounting bac k ground, prepared the following balanc e s heet for the c ompany at February 28, 2011. The dollar amounts were tak en direc tly from the c ompany 's ac c ounting rec ords and are c orrec t. Howev er, the balanc e s heet c ontains a number of errors in its headings , format, and the c las s ific ation of as s ets , liabilities , and owners ' equity . DIXIE TRANSPORTATION SERVICE MANAGER’S REPORT 8 P.M. THURSDAY Assets Owners' Equity Capital Stoc k $ 92,000 Ac c ounts Rec...
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This document was uploaded on 03/03/2014 for the course MGMT ACCOU 2300 at Rensselaer Polytechnic Institute.

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