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Determine the missing amounts for each independent case below. Assume the amounts given are at the end of the company's first year of operation.
Company total total total total Netincome Stockholder's Name Revenue Assets Expensses Liabilites ( Loss ) Equity Randolph $600,000 $450,000 $350,000 $130.000 Newman $105,000 $80,000 $10,000 $75,000 Wiseman $190,000 $70,000 $30,000 $100,000 Martin $180,000 $ 215,000 $115,000 $75,000 van tassel $55,000 $75,000 $19,000 $79,000
Among financial statement frauds, Revenue and Inventory accounts are the ones most often used to perpetrate fraud. Illustrate what is it about these two types of accounts that makes them more prone to fraud?
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The General Fund transferred $100,000 to the Motor Pool Internal Service Fund to be used for general operating purposes
Complete the Balance Sheet using the information on the Post Closing Trial Balance and determine the amount of Merchandise Inventory lost and prepare the entry to write off the lose.
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