After locating the errors and completing the corrected classified balance sheet, order the classification headings, account names, and total descriptions in the correct order to unlock Lock #1.

Hints

• Make sure total assets = total liabilities + stockholders' equity
• List current assets in order of liquidity (inventory is the least liquid)
• List current liabilities (after accounts payable) in order of magnitude)
• See textbook page 67 for an example

	Stockholders equity Accounts payable
	Noncurrent liabilities
	Salary payable
	Total stockholders equity
	Current assets
	Mortgage payable
	Retained earnings
	Noncurrent assets
	Short-term notes payable
	Current liabilities
	Supplies
	Total liabilities
	Total assets
	Total current liabilities
	Total current assets
	Cash
	Building and equipment
	Common stock
	Inventory
	Total liabilities and stockholders equity