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Selected accounts from Germx Co.'s adjusted trial balance for the year ended December 31 follow. Trading securities (at cost) Short-term stock investments (at cost) Equity
Selected accounts from Germx Co.'s adjusted trial balance for the year ended December 31 follow. Trading securities (at cost) Short-term stock investments (at cost) Equity method investments Hold-to-maturity securities (long-term) $ 5,000 23,000 70,000 13,000 Cash Fair value adjustment-stock Accounts receivable Fair value adjustment-trading $10,000 (1,000) 2,000 500 Prepare the assets section of a classified balance sheet. Hint Falr Value Adjustment- Trading increases trading securities; Fair Value Adjustment-Stock decreases stock investments. (Amounts deducted should be indicated by a minus sign.) GERMX CO. Assets Section of Balance Sheet December 31 Assets Current assets Cash Stock investments (at cost) $ 10,000 $ $ 23,000 23,000 0 2,000 Accounts receivable Total current assets 35,000 Long-term Investments 0 Total long-term investments Total assets $ 35,000
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