Mark Brock Services Co$.$

Balance Sheet

For the Year Ended December $31$

Assets

Current assets:

Cash $$7,170$

Accounts payable $7,500$

Supplies $2,590$

Prepaid insurance $800$

Land $24,000$

Total current assets $$42,060$

Property, plant, and equipment:

Building $$43,700$

Equipment $29,250$

Total property, plant, and equipment $72,950$

Total assets $$131,510$

Liabilities

Current liabilities:

Accounts receivable $$10,000$

Accum. depr.$-$building $12,525$

Accum. depr.$-$equipment $7,340$

Net income $11,500$

Total liabilities $$41,365$

Owner's Equity

Wages payable $$1,500$

Mark Brock, capital $88,645$

Total owner's equity $90,145$

Total liabilities and owner's equity $$131,510$

Question Content Area

a$.$ List the errors in the balance sheet.

$(1)$ Date of statement

is correct

$.$

$(2)$ Accounts payable

$.$

$(3)$ Land

and

$.$

$(4)$ Accumulated depreciation

from the related fixed asset in the Property, Plant, and Equipment section.

$(5)$ The amount of total assets

$.$

$(6)$ Accounts receivable

$.$

$(7)$ Net income

$.$

$(8)$ Wages payable