Integrating Case 4-15

Integrating Case 4-15 end Sheet and Income Statement Chapters 3 and 4 Requirement There are several(prenominal) deficiencies in the financial disceptations spirited by the controller for rice Corporation. The asset fragment of the parallelism sheet bath be broken down into terce categories. This corporations assets can be allocated as galvanising accepted assets, investments, and property, plant, and equipment. The $78,000 in saleable securities should be divide mingled with incumbent and non- catamenia assets. short-run investments would argue a ratio of $57,000. Investments ( long) will show a balance of $21,000. The miscellaneous put down that is reported on the income disputation should be separately reported, as users should be do sensitive of events reported in the income statement that are non likely to lapse again in the predictable forthcoming (Spiceland, Sepe, & Nelson, 2011, p. 180). This situation would go along below income from continuing trading operations and should be considered a loss. sympathetic to the assets section, the liabilities section should be divided into modern and long-run liabilities. Classifying the liabilities in this way will care to house the bank with excess information to determine the liquidity of Rice Corporation (Spiceland, et al., 2011, p. 115).

The premier differentiation payable ($80,000) is all classify as a current liability. It would be listed downstairs the current liability section as a complicate down payable. The stand by note payable ($120,000) should be divided between current liabilities ($60,000) and long-run debt ($60,000). The current portion should hit the books current maturities of long-term debt (Spiceland, et al., 2011, p. 120). Shareholders right would be listed below long-term liabilities. The line item for adaption for uncollectible accounts should be separate with accounts receivable. This figure should be deducted from the accounts receivable. The progeny is a $437,000 balance for accounts receivable, net. In the same way, the superior follow of property and...If you want to get a full-of-the-moon essay, edict it on our website: Ordercustompaper.com

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