The following balance sheet contains errors. 
a) List the errors in the balance sheet above and b) prepare a corrected balance sheet.
Definitions:
Law and Equity
The comprehensive system in legal jurisdictions where remedies (solutions) can be provided under both common law (law) and fairness (equity).
Federal System
The system of government established by the Constitution, in which the national government and the state governments share sovereign power.
Government Allocation
The distribution or assignment of resources, funds, or duties by a government body to various departments, programs, or projects.
Federal Law
Legislation enacted by the national government or Congress that applies to the country as a whole.
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