Çiğli Transportation service Manager's Report 8pm Thursday Assets Owners' Equity Capital Stock Retained Earnings 92.000 TL Accounts Receivable 70.000 TL Notes Payable Supplies 62.000 TL 288.000 TL Cash 69.000 TL 14.000 TL Building 80.000 TL Land 70.000 TL Automobiles 165.000 TL Accounts Payable 26.000 TL 468.000 TL 468.000 TL

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 93.3C
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 The night manager of Çiğli Transportation Service, who had no accounting background, prepared the following balance sheet for the company at February 28, 2011. The dollar amounts were taken directly from the company’s accounting records and are correct. However, the balance sheet con- tains a number of errors in its headings, format, and the classification of assets, liabilities, and owners’ equity.

Çiğli Transportation service
Manager's Report
8pm Thursday
Assets
Owners' Equity
Capital Stock
Retained Earnings
92.000 TL
Accounts Receivable
70.000 TL
Notes Payable
Supplies
62.000 TL
288.000 TL
Cash
69.000 TL
14.000 TL
Building
80.000 TL
Land
70.000 TL
Automobiles
165.000 TL
Accounts Payable
26.000 TL
468.000 TL
468.000 TL
Transcribed Image Text:Çiğli Transportation service Manager's Report 8pm Thursday Assets Owners' Equity Capital Stock Retained Earnings 92.000 TL Accounts Receivable 70.000 TL Notes Payable Supplies 62.000 TL 288.000 TL Cash 69.000 TL 14.000 TL Building 80.000 TL Land 70.000 TL Automobiles 165.000 TL Accounts Payable 26.000 TL 468.000 TL 468.000 TL
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