Question

Prepare a classified balance sheet in report form. For assets, use the classifications of current assets, plant and equipment, intangibles, and other assets. For liabilities, use the classifications of current liabilties and long-term liabilities.

M all-MKAYLA Lash SG Korean Face Moist and long-lem liabilities P33 The following information was obtained from the accounts of Alleg, Inc, as of December 31, 2012. It is presentrd in scrambied order Common stock, authorized 21,000 shares at $1 par valoe, issued 10,000 shares Additional paid-in capital $10,000 38,000 Cash 13,000 Marketable securities 17,000 Accounts receivable 26,000 Accounts payable Current maturities of long-term debt 15,000 11,000 Mortgages payable 80,000 Bonds payable 70,000 Inventory Land and buildings 30,000 57,000 Machinery and equipement 125,000 Goodwill 8,000 Patents 10,000 Other assets 50,000 Deferred income taxes (long-term liability) 18,000 Retained earmings 33,000 Accumulated depeeclation Required Prepare a classifled balance sheet in report form. For assets, use the classifications of cument assets, plant and equipment, intangibles, and other assets. For liabilities, use the classifications of current liabilities and lone-term liabilities 61,000 156

Answer 1

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ASSETS Current assets: Cash Marketable securities Accounts receivable Inventories     Total current assets Plant and equipment: Land and buildings Machinery and equipment Less: Accumulated depreciation       Total plant and equipment Intangibles: Goodwill Patents Other assets       Total assets LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable Current maturities of long-term debt Total current liabilities Long-term liabilities: Mortgages payable Bonds payable Deferred income taxes Total long-term liabilities Stockholders’ equity: Common stock, no par value 21,000 shares authorized at $1 par value, 10,000 shares issued Additional paid-in capital Retained earnings Total stockholders’ equity Total liabilities and stockholders’ equity

$ 13,000 17,000 26,000 30,000 86,000 57,000 125,000 182,000 61,000 121,000 8,000 10,000 18,000 50,000 $275,000 $ 15,000 11,000 26,000 80,000 70,000 18,000 168,000 10,000 38,000 33,000 81,000 $275,000