Joseph is the president of Sunshine Enterprises. Sunshine Enterprises began business on January 1, 2014. The company’s controller is out of the country on business. Joseph needs a copy of the company’s balance sheet for a meeting tomorrow and asks his assistant to obtain
the required information from the company’s records. She presents Joseph with the following
balance sheet. He asks you to review it for accuracy.

-Required
1. Prepare a corrected balance sheet.
2. Draft a memo explaining the major differences between the balance sheet Joseph’s assistant prepared and the one you prepared.

Question

Joseph is the president of Sunshine Enterprises. Sunshine Enterprises began business on January 1, 2014. The company’s controller is out of the country on business. Joseph needs a copy of the company’s balance sheet for a meeting tomorrow and asks his assistant to obtain
the required information from the company’s records. She presents Joseph with the following
balance sheet. He asks you to review it for accuracy.

-Required
1. Prepare a corrected balance sheet.
2. Draft a memo explaining the major differences between the balance sheet Joseph’s assistant prepared and the one you prepared.

Quizplus · Accepted Answer

The Answer of Joseph is the president of Sunshine Enterprises. Sunshine Enterprises began business on January 1, 2014. The company’s controller is out of the country on business. Joseph needs a copy of the company’s balance sheet for a meeting tomorrow and asks his assistant to obtain
the required information from the company’s records. She presents Joseph with the following
balance sheet. He asks you to review it for accuracy.

-Required
1. Prepare a corrected balance sheet.
2. Draft a memo explaining the major differences between the balance sheet Joseph’s assistant prepared and the one you prepared.

Joseph Is the President of Sunshine Enterprises