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Selected accounts from Lue Co.s adjusted trial balance for the year ended December 31 follow. Prepare a classified balance sheet. Assets/Liabilities: Accounts payable Accounts receivable

Selected accounts from Lue Co.s adjusted trial balance for the year ended December 31 follow. Prepare a classified balance sheet.

Assets/Liabilities:

  • Accounts payable
  • Accounts receivable
  • Accumulated amortizationPatents
  • Accumulated depletionSilver mine
  • Accumulated depreciationEquipment
  • Cash
  • Current portion of long-term debt
  • Employee federal income taxes payable
  • Employee medical insurance payable
  • Equipment
  • Federal unemployment taxes payable
  • FICAMedicare taxes payable
  • FICASocial security taxes payable
  • Goodwill
  • Land
  • Notes payable
  • Patents
  • Salaries payable
  • Sales tax payable
  • Silver mine
  • State unemployment taxes payable

image text in transcribed

Selected accounts from Lue Co.'s adjusted trial balance for the year ended December 31 follow. Prepare a classified balance sheet. Total equity Equipment Salaries payable Accounts receivable Cash Current portion of long-term debt Notes payable (due in 6 years) $ 31,100 41,100 35,100 7,500 53,500 5,100 10,000 Employee federal income taxes payable Federal unemployment taxes payable FICA-Medicare taxes payable FICA-Social Security taxes payable Employee medical insurance payable State unemployment taxes payable Sales tax payable (due in 2 weeks) $ 9,900 290 520 3,800 3,100 2,800 390 LUE CO. Balance Sheet December 31 Assets Current assets 0 Total current assets Plant assets Total assets S 0 Liabilities Current liabilities Total current liabilities 0 Long-term liabilities Total liabilities 0 Equity Total equity Total liabilities and equity S 0

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