Answer Happy

Insert Draw Design Layout References Times New... 12 A A Aa A V BI Uvab x, x² A2 A. X Required: » Tell me =♥ Paragraph 1. A 2. Styles ACC 101 Short Project-Module 7 Charles Data is the CEO of Datacom Service Center. His son, William, is a first year accounting student at a local community college. Charles wants to give William some practical experience so he allowed him to prepare the 2021 financial statements. (see data file and working papers). Share You, as Datacom's controller, are aware an audit is near and explain to Mr. Data that you must double check his son's work. Dictate Review the financial statements William prepared and make any corrections. You will also need to review the ratios he has calculated. Write a memo to Mr. Data describing his son's errors and describe to him why you had to make the corrections you did. You can do this in the form of Notes to the Financial Statements on the Excel spreadsheet. c Edito
3388588949934 36 37 40 41 42 F20 46 47 48 49 50 51 52 53 54 55 56 57 58 59 50 51 62 63 4 E Ready Total Assets D Cash Depreciation Expense Insurance Expense Supplies Furniture Building Assets Financial St Debt Ration. Current Ratio======= E Datacom Service Center Balance Sheet 31-Dec-21 ======> ========> F Liabilities 6,400.00 Supplies Expense 1,900.00 Note Payable 600.00 Salary Payable 3,800.00 Unearned Service Rev 43,200.00 Total Liabilities 55,900.00 14% 0.80 Owners Equity C. Data, Capital Balance Gap 111,800.00 Total Liab & Owners Eq C 4,600.00 5,400.00 3,000.00 2,800.00 15,800.00 63,800.00 32,200.00 111,800.00 H
6 8 10 11 12 13 14 15 16 17 18 19 2R友NAX发发有限符文石对 20 21 23 24 27 28 29 30 32 Ready Financial St Account Account Post Closing Trial Balance Debit Adjusted Trial Balance Debit Credit Credit Datacom Service Center Income Statement Year Ended December 31, 2021 Profit Margin Ratio> Datacom Service Center Statement of Owners Equity Year Ended December 31, 2021 MacBook Air
F20 1 2 3 Revenues: 7 8 9 4 5 6 Note Receivable Service Revenue Total Revenue Accounts Receivable 10 Expenses: 11 Jx Salary Payable 12 Accounts Payable 13 14 15 16 Total Expenses 17 Net Income D Accumualted Depr-Furn Advertising Expense Prepaid Insurance 23 24 25 26 27 Beginning Capital 28 Net Income 29 Less: Withdrawals 30 Ending Capital 31 32 Financial St 18 19 20 Profit Margin Ratio=============> 21 22 E Datacom Service Center Income Statement Year Ended December 31, 2021 Datacom Service Center Statement of Owners Equity Year Ended December 31, 2021 11,500.00 8,200.00 71,100.00 3,000.00 14,700.00 7,100.00 900.00 5,300.00 34% 39,900.00 55,100.00 31,200.00 63,800.00 F 90,800.00 31,000.00 59,800.00 G