List the errors you find in the following balance sheet. Prepare a corrected balance sheet. Assets Liabilities

List the errors you find in the following balance sheet. Prepare a corrected balance sheet.

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Assets Liabilities Current assets: Current liabilities: Accounts payable Supplies 31,300 6,500 Accum. depr-building Accum. depr-equipment 25,000 Net income 118,200 155,000 $339,600 Total current assets.... $297,900 Property, plant, Owner's Equity and equipment: Wages payable 6,500 Total property, plant, 593,700 635,400 Total liabilities and Total assets $933,300