Çiğli Transportation service Manager's Report 8pm Thursday Assets Owners' Equity Capital Stock Retained Earnings 92.000 TL Accounts Receivable 70.000 TL Notes Payable Supplies 62.000 TL 288.000 TL...

 The night manager of Çiğli Transportation Service, who had no accounting background, prepared the following balance sheet for the company at February 28, 2011. The dollar amounts were taken directly from the company’s accounting records and are correct. However, the balance sheet con- tains a number of errors in its headings, format, and the classification of assets, liabilities, and owners’ equity.

Extracted text: Çiğli Transportation service Manager's Report 8pm Thursday Assets Owners' Equity Capital Stock Retained Earnings 92.000 TL Accounts Receivable 70.000 TL Notes Payable Supplies 62.000 TL 288.000 TL Cash 69.000 TL 14.000 TL Building 80.000 TL Land 70.000 TL Automobiles 165.000 TL Accounts Payable 26.000 TL 468.000 TL 468.000 TL