4. The following balance sheet, prepared by a careless bookkeeper, has been given to you...
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4. The following balance sheet, prepared by a careless bookkeeper, has been given to you to review. Required: List any corrections that need to be made. Errors can be in classification, lack of disclosure, format, or terminology Eldorado, Inc. Balance Sheet For the Year Ended June 30, 2012 Current Assets: 37,000 Accounts Receivable Merchandise Inventory Cash 62,000 $116,000 Investments: $ 18,000 Marketable Securities Treasury Stock 22,000 Tangible Assets: Buildings Less: Reserve for Depreciation $194,000 3.0001 160,000 Other Assets Unamortized Portion of Bond Payable Discount Liabilities and Stockholders' Equity Current Liabilities Accounts Payable Bank Note Payable (due 6/1/2011) s 26,000 $48,000 Long-Term Liabilities: 112,000 Bonds Payable
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