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Selected accounts from Gregor Companys adjusted trial balance for the year ended December 31 follow. Prepare a classified balance sheet. Note: On the companys balance
Selected accounts from Gregor Companys adjusted trial balance for the year ended December 31 follow. Prepare a classified balance sheet. Note: On the companys balance sheet, accumulated depreciation is subtracted from equipment, accumulated amortization is subtracted from patents, and accumulated depletion is subtracted from silver mine.
Common stock $ 48,500 Accounts payable $ 3,700
Retained earnings 18,500 Accumulated depreciationEquipment 28,300
Patents 7,400 Notes payable (due in 9 years) 28,000
Cash 7,700 Goodwill 6,700
Land 47,000 Accumulated depletionSilver mine 6,400
Equipment 37,000 Accumulated amortizationPatents 4,400
Silver mine 32,000
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