A Careless Accountant Splattered Spaghetti Sauce on Kite Company's Balance

question 20

Essay

A careless accountant splattered spaghetti sauce on Kite Company's balance sheet. The balance sheet with its missing amounts is provided below: Kite Company's working capital is $138,000.
Required:
Compute the missing amounts. Record your answers in the following table:

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Definitions:

Executory

Describes a contract or lease that has not yet been fully performed or completed by all parties involved.

Formal

Adhering to established conventions or requirements; official.

Purchase Price

The amount of money paid to buy goods, services, or assets.

Offeror

The party in a contractual agreement who proposes the terms of the contract to the offeree for acceptance.