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  3. 4) determine the total amount of the understatemen

4) Determine the total amount of the understatement or overstatement :...

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Accounting

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4) Determine the total amount of the understatement or overstatement : Other data: 1. Of the notes payable, $10,000 becomes due on July 1, 2008, and the rest on July 1, 2009. 2. The note receivable is due on June 1,2008. 3. On September 20, 2007, Neo Anderson invested $3,600 cash in the business. Instructions (a) Prepare an income statement and statement of owner's equity for the year ended March 31 , 2008 , and a classified balance sheet as at March 31, 2008. (b) On March 31, 2007, Matrix Consulting Services had current assets of $30,700 and current liabilities of \$15,950. Calculate the company's working capital and current ratio on March 31,2007, and

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