Topic 7 Classroom Assessment Technique: Auditing Fixed Assets Your client, Edgartown Corporation, provided the following schedule of land, buildings, and equipment for the audit of financial statements for the year ended December 31, 2019: 1/1/19 Account Description Land Beginning Balance Additions Disposals 12/31/19 Ending Balance $ 7,500,000 $7,500,000 Building-Office 27,000,000 $250,000 - 27,250,000 Production equipment 2,345,000 178,223 $ 34,779 2,488,444 Office equipment 1,765,881 72,517 55,339 1,783,059 IT hardware Total 216,542 $38,827,423 19,098 197.444 $500,740 $109,216 $39,218,947