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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 $ 10,000 Accounts payable $ 3,500 Retained earnings 55,000 Accumulated depreciationEquipment 26,500 Patents 7,000 Notes payable (due in 9 years) 26,000 Cash 7,500 Goodwill 6,500 Land 45,000 Accumulated depletionSilver mine 6,000 Equipment 35,000 Accumulated amortizationPatents 4,000 Silver mine
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