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Cash $68,000 Trademark $38,000 Palent, net 28,000 Prepaid insurance (two-thirds is long-term) 12.000 Accounts receivable (nel of allowance) 180,000 Copyright, net 24,000 Prepaid rent expense
Cash $68,000 Trademark $38,000 Palent, net 28,000 Prepaid insurance (two-thirds is long-term) 12.000 Accounts receivable (nel of allowance) 180,000 Copyright, net 24,000 Prepaid rent expense (current) 2,000 Equipment (nel of accumulated depreciation) 600,000 Marketable equity securities (current) 100,000 Notes receivable, trade (short-term) 20,000 Franchise, net 36,000 R&D expense 78,000 Rent revenue receivable (current) 6,000 Noncompete agreement 24,000 Goodwill 120,000 Required Prepare the asset section of Lawrence's balance sheet at December 31, 2020. Include the proper balance sheet classifications with separate captions for current assets; property, plant, and equipment; intangible assets; and other assets. Assume that all required amortization entries have been made. Note: List all accounts within each balance sheet category in alphabetical order. Lawrence Corp. Balance Sheet-Selected Balances December 31, 2020 Assets Current Assets Accounts receivable, nel Cash S OX 0X OX OX + OX . OX OXS OX OX Marketable equity Securities Noles receivable, trade Prepaid insurance Prepaid rent expense Rent revenue receivable Property, plant, and equipment Equipment, net Intangible assets Copyright, net Franchise, net Goodwill Noncompele agreement Patent, net Trademark Other assets Prepaid insurance Total Assets Ox 0X . OX . . OX OX OX $ OX
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