Description
The document attached is a case study. I am Jefferson's accountant and need to answer the following:
1. Record the correcting entry 2. Prepare financial statements 3. Current owners want $250,000 for the business. Jefferson does not want to pay more than Net Worth x 1.5. Should he buy? For how much?
Please explain in detail each one. Thanks!
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Explanation & Answer
find attached solution to your problem ... Do let me know If you have any question regarding this assignment .. At the end please review this project ... Good Luck
ART SPECLIST INC
Student Name
Subject
Professor Name
8th October 2017
Unajusted Trial Balance
December 31, 2013
Cash
Accounts receivable
Supplies
Equipment
Accumulated Depreciation
Accounts payable
Dividends
Capital stock
Retained earnings
Commission income
Rent Expense
Wages Expense
Auction Expenses
Depreciation Expenses
Membership Expenses
Supplies Expense
TOTAL
$35.000
$60.000
$8.000
$53.000
$50.000
...