Your friend, Daniel recently began work as the lead accountant for the Asheville Company. Daniel prepared the following balance sheet for 31 December 2018: assets:  land $100000 accounts payable $10000 accounts receivable $12500 cash $10000 daniel nat, capital $235000 total assets: $367500 liabilities: equipment $125000 wages payable $2500 total liabilities: $127500 instructions: 1. write a brief explanations to Daniel explaining the errors in the Ashville Company balance sheet. 2. Draw a correct presentation for the balance sheet

Entries into The simplest form of an account.T Accounts and A summary listing of the titles and balances of accounts in the ledger.Trial Balance Connie Young, an architect, opened an office on October 1, 2019. During the month, she completed the following transactions connected with her professional practice: Transferred cash from a personal bank An accounting form that is used to record the increases and decreases in each financial statement item.account to an account to be used for the business, $60,400. Paid October rent for office and workroom, $6,000. Purchased used automobile for $39,000, paying $9,100 cash and giving a note payable for the remainder. Purchased office and computer equipment on account, $12,100. Paid cash for supplies, $2,900. Paid cash for annual insurance policies, $4,000. Received cash from client for plans delivered, $15,100. Paid cash for miscellaneous expenses, $1,630. Paid cash to creditors on account, $3,500. Paid $480 on note payable. Received invoice…

Use Redlands’ 2017 balance sheet from Exhibit 2-1 in your Bergevin and MacQueen textbook as the starting point for this problem. Assume that Redlands had the following transactions in 2018: Borrowed $80 in cash from a bank at the beginning of 2018. Received $50 cash from the 2017 consulting engagement. Paid $30 cash for the 2017 operating expenses. Earned $60 in consulting revenue for 2018—collected one-half of the revenue in cash. Incurred $35 of operating expenses in 2018—paid $20 of the operating expenses in cash. Recorded 2018 depreciation expense of $15 on the equipment purchased in 2017. Paid $8 of interest for the $80 cash borrowed at the beginning of 2018. Record the transactions in the general journal.