During the Middle Ages, the African city of Taghaza quarried salt in 200-pound blocks to be sent to the salt market in Timbuktu, in present-day Mali. Travelers report that Taghazans used salt instead of wood to construct buildings. How would the elasticity of demand for wood in Taghaza have compared with the elasticity of demand for wood in other towns without big salt mines

Problem 1. the following balance sheet contains errors. lopez services, inc. balance sheet for the year ended december 31, 20-- assets liabilities current assets: current liabilities: cash $ 6,170 accounts receivable $ 9,000 accounts payable 8,500 accum. depr- building 13,525 supplies 1,590 accum. depr- equipment 6,340 prepaid insurance 345 net income 12,500 land 25,000 total current assets $ 42,105 total liabilities $ 40,865 stockholders equity property, plant, and equipment: wages payable $ 500 building $ 45,500 retained earnings 10,000 equipment 28,250 total stockholders' equity $ 64,490 total property, plant, and equipment 73,750 total assets $115,855 total liabilities and stockholders' equity $115,855 (a) list the errors in the balance sheet above and (b) prepare a corrected balance sheet using ms excel