I wouldn't call the error glaring, but it is there. The cash flow statement doesn't balance to the sum of $1,045,000.
The Balance sheet doesn't feed into the cash flow statement either: In Week1 the Cash in the balance sheet is out by $10,450.00 compared to the balance at the end of the cash flow statement. I wonder if this is supposed to be a difference like that above, but someone got their thousands and millions confused.
There is a lot of undeposited funds at the end of Week1 - looks like someone has been dipping their hands into them.
The glaring error from an accounting perspective is that they have a credit on the assets of the balance sheet - should really be in liabilities, but that is just notation.
R.
The Balance sheet doesn't feed into the cash flow statement either: In Week1 the Cash in the balance sheet is out by $10,450.00 compared to the balance at the end of the cash flow statement. I wonder if this is supposed to be a difference like that above, but someone got their thousands and millions confused.
There is a lot of undeposited funds at the end of Week1 - looks like someone has been dipping their hands into them.
The glaring error from an accounting perspective is that they have a credit on the assets of the balance sheet - should really be in liabilities, but that is just notation.
R.
