QUESTION $4.$

You are a new staff auditor. Your manager gave you the following balance sheet from a client.

Your manager knows the balance sheet has problems but wants to see how much you know

before they assign you to your next audit. They ask you to revise the balance sheet. You know

that you should correct the format and poor terminology and identify the proper classification of

items. Your manager mentioned that fixed assets have a cost of $$30,000.$