If possible please explain how you got the answer i’m trying to get a clear understanding which is the reason I need help with the assignment. The first question is in the read upload, I will be sending on page 621 (title )supply missing balance sheet numbers.Please cite sources.
Using Problem 13-20A, complete the below.
1.Complete the balance sheet by supplying the missing amounts.
2.Why are externally presented reports required to be prepared according to generally accepted accounting principles while internally presented managerial accounting reports are not?
3.How can a misstatement in one financial statement, whether intentional or not, affect a presentation in another financial statement? Give an example of an error that occurs on one financial statement and the error flows through to a second financial statement.