FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Concept explainers

Fraud
Fraud in accounting is the planned manipulation of financial documents to make a false appearance of corporate financial health. Moreover, it includes an employee, accountant, or the company itself misleading investors and shareholders.
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I think im missing something. Can you correct me?
BEESON COMPANY Balance Sheet December 31, 2017 Liabilities and Stockholders' Equity $16,000 (12,000) 40,000 31,500 Assets $18,000 9,500 40,000 8,000 Accounts payable Accounts receivable Common stock Retained earnings Total liabilities and stockholders' equity Cash Supplies Equipment Dividends Total assets $75,500 $75,500 2ono Instructions Prepare a correct balance sheet.
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Transcribed Image Text:BEESON COMPANY Balance Sheet December 31, 2017 Liabilities and Stockholders' Equity $16,000 (12,000) 40,000 31,500 Assets $18,000 9,500 40,000 8,000 Accounts payable Accounts receivable Common stock Retained earnings Total liabilities and stockholders' equity Cash Supplies Equipment Dividends Total assets $75,500 $75,500 2ono Instructions Prepare a correct balance sheet.
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