Should the assets figure not be $35,000?

by Philip Kelso
(Carlow, Ireland)

Q: I just noticed the text in this Accrued Income Part 2 lesson says, "George’s Catering still consists of assets of $30,800, but this is now made up of baking equipment to the value of $12,000, and $23,000 cash".


Surely the $30,800 is incorrect and should read $35,000 instead!

A:
You're absolutely right Philip - great catch! :) This has now been changed.

As a token of our appreciation for helping us with this correction, we're going to send you a copy of our "Dictionary of Basic Accounting Terms" E-book ($6.95 value), which will be released soon on the site. Watch for it in your inbox...

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