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Selected accounts from Gregor Co.'s adjusted trial balance for the year ended December 31 follow. Prepare a classified balance sheet. Note: On the company's balance
Selected accounts from Gregor Co.'s adjusted trial balance for the year ended December 31 follow. Prepare a classified balance sheet. Note: On the company's balance sheet, accumulated depreciation is subtracted from Equipment, accumulated amortization is subtracted from Patents, and accumulated depletion is subtracted from Silver mine. Total equity Patents Cash Land Equipment Silver mine $68,000 7,600 7,800 48,000 38,000 33,000 Accounts payable Accumulated depreciation-Equipment Notes payable (due in 9 years) Goodwill Accumulated depletion-Silver mine Accumulated amortization-Patents $ 3,800 29,200 29,000 6,800 6,600 4,600
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