Question: List the errors you find in the following partial balancesheet: Hobart Company Balance Sheet December 31, 2010 Assets Total current assets $350,000 Replacement Cost Accumulated

List the errors you find in the following partial balancesheet:

Hobart Company Balance Sheet December 31, 2010 Assets Total current assets $350,000 Replacement Cost Accumulated Depreciation Book Value Property, plant, and equipment: Land Buildings Factory equipment Office equipment $ 60,000 156,000 330,000 $ 12,000 45,600 175,200 48,000 $ 48,000 110,400 154,800 24,000 48,000 72,000 48,000 27,000 Patents Goodwill 3,000 24,000 Total property, plant, and equipment $283,800 409,200 $693,000

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