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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
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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