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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 $ 47,000 Accounts payable $ 3,400
Retained earnings 17,000 Accumulated depreciationEquipment 25,600
Patents 6,800 Notes payable (due in 9 years) 25,000
Cash 7,400 Goodwill 6,400
Land 44,000 Accumulated depletionSilver mine 5,800
Equipment 34,000 Accumulated amortizationPatents 3,800
Silver mine 29,000
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