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Following is a list of items taken from the December 31, 2017, balance sheet of Reagan Company (amounts omitted): Accounts payable Goodwill Accrued expenses Income
Following is a list of items taken from the December 31, 2017, balance sheet of Reagan Company (amounts omitted):
Accounts payable | Goodwill |
Accrued expenses | Income taxes payable |
Accumulated depreciationbuildings | Land |
Accumulated depreciationmachinery and equipment | Machinery and equipment |
Bonds payable | Notes payable to banks (short term) |
Buildings | Preferred stock |
Cash | Prepaid expenses |
Common stock | Raw materials |
Contributed capital in excess of par | Retained earnings |
Current portion of long-term debt | Short-term investments |
Deferred tax liability (noncurrent) | Trade accounts receivable |
Finished products inventory | Trademarks |
Work-in-process inventory | |
Required: Using the above information, prepare a classified balance sheet in good form. Reagan Company Balance Sheet As of December 31, 2017 Liabilities and Stockholders' Equity Current liabilities: Assets Current assets: ... . .. .... Inventories: Total current liabilities Long-term liabilities Total current assets Plant assets: Total liabilities Stockholders' equity: Intangible assets: Total stockholders' equity Total liabilities and stockholders' equity Total assets
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