Allessandro Scarlatti Company

Allessandro Scarlatti Company Balance Sheet Partial December 31, 2014
Cash $42,270
Accounts Receivable $96,720
Less: Allowance for doubtful accounts $8960
Inventory $177,630
Prepaid Expenses $9470
Accounts Payable $65,190
Notes Payable $67,510

The following errors in the corporation’s accounting have been discovered:
1. January 2015 cash disbursements entered as of December 2014 included payments of account payable in the amount of $40,900, on which a cash discount of 2% was taken.
2. The inventory included $31,600 of merchandise that had been received at December 31 but for which no purchase invoices had been received or entered. Of this amount, $10,900 had been received on consignment; the remainder was purchased f.o.b. destination, terms 2/10, n/30.
3. Sales for the first four days in January 2015 in the amount of $31,620 were entered in the sales journal as of December 31, 2014. Of these, $31,450 were sales on account and the remainder were cash sales.
4. Cash, not including cash sales, collected in January 2015 and entered as of December 31, 2014, totaled $38,148. Of this amount, $28,028 was received on account after ash discounts of 2% had been deducted; the remainder represented the proceeds of a bank loan.

Don't use plagiarized sources. Get Your Custom Essay on
Allessandro Scarlatti Company
Just from $10/Page
Order Essay

Calculate the following adjusted balances.
Accounts Receivable
Accounts Payable
Notes Payable

Restate the current assets and current liabilities section of the balance sheet in accordance with good accounting practice. Assume that both accounts receivable and accounts payable are recorded gross.


Order a unique copy of this paper
(550 words)

Approximate price: $22

Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

We value our customers and so we ensure that what we do is 100% original..
With us you are guaranteed of quality work done by our qualified experts.Your information and everything that you do with us is kept completely confidential.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

The Product ordered is guaranteed to be original. Orders are checked by the most advanced anti-plagiarism software in the market to assure that the Product is 100% original. The Company has a zero tolerance policy for plagiarism.

Read more

Free-revision policy

The Free Revision policy is a courtesy service that the Company provides to help ensure Customer’s total satisfaction with the completed Order. To receive free revision the Company requires that the Customer provide the request within fourteen (14) days from the first completion date and within a period of thirty (30) days for dissertations.

Read more

Privacy policy

The Company is committed to protect the privacy of the Customer and it will never resell or share any of Customer’s personal information, including credit card data, with any third party. All the online transactions are processed through the secure and reliable online payment systems.

Read more

Fair-cooperation guarantee

By placing an order with us, you agree to the service we provide. We will endear to do all that it takes to deliver a comprehensive paper as per your requirements. We also count on your cooperation to ensure that we deliver on this mandate.

Read more

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Open chat
You can contact our live agent via WhatsApp! Via +1 817 953 0426

Feel free to ask questions, clarifications, or discounts available when placing an order.

Order your essay today and save 30% with the discount code STARS