Below is the balance sheet for Labyrinth Services Co., which contains errors. Labyrinth Services Co. Balance...
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Below is the balance sheet for Labyrinth Services Co., which contains errors. Labyrinth Services Co. Balance Sheet For the Year Ended August 31, 20Y3 Current assets: Cash Accounts payable Supplies Prepaid insurance Land Total current assets Assets Property, plant, and equipment: Building Equipment Total property, plant, and equipment Total assets Liabilities Current liabilities: $18,500 31,300 6,500 16,600 225,000 $297,900 $400,000 97,000 635,400 $933,300 Below is the balance sheet for Labyrinth Services Co., which contains errors. Labyrinth Services Co. Balance Sheet For the Year Ended August 31, 20Y3 Current assets: Cash Accounts payable Supplies Prepaid insurance Land Total current assets Assets Property, plant, and equipment: Building Equipment Total property, plant, and equipment Total assets Liabilities Current liabilities: $18,500 31,300 6,500 16,600 225,000 $297,900 $400,000 97,000 635,400 $933,300
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