Given the following information, prepare the statement of financial position for Meranda's Accounting Service for December 31, 2013.
Definitions:
Assignment
The passage of control over assets, obligations, or rights from one person to another.
Donee Beneficiary
A third party who benefits from a contract made between two other parties, particularly when the contract's purpose is to give a gift to the third party.
Cause of Action
A collection of sufficient facts that validates the entitlement to initiate legal action for the purpose of acquiring money, property, or enforcing a right against someone else.
Breaching Party
the party in a contract who fails to fulfill their contractual obligations, thereby violating the agreement.
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