xercise 4-4

Classified Balance Sheet Preparation

The following data pertain to Wagoner, Inc.: Accounts Payable, $20,400; Accounts Receivable, $15,200; Accumulated Depreciation-Building, $5,600; Accumulated Depreciation-Equipment, $6,800; Bonds Payable, $24,000; Building, $28,000; Cash, $12,480; Copyright, $2,480; Equipment, $60,800; Inventory, $16,000; Investment in Corporate Securities (long-term), $8,000; Investment in Six-Month Government Securities, $6,560; Common Stock, $18,000; Income Taxes Payable, $2,600; Land, $3,200; Prepaid Rent, $480; and Revenue Received in Advance, $1,120.

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Prepare a classified balance sheet at December 31, 2014. Assume that this is Wagoner?s first year of operations.

Wagoner, Inc.

Balance SheetDecember 31, 2014

AssetsCurrent assets

$

Total current assets

$

Investments

Property, plant, and equipment

$

$

$

Total property, plant, and equipment

Intangible assets

Total assets

$

LiabilitiesCurrent liabilities

$

Total current liabilities

$

Long-term liabilities

Total liabilities

$

Stockholders' Equity

$

Total stockholders' equity

Total liabilities and stockholders' equity

$

xercise 4-4 Classified Balance Sheet Preparation The following data pertain to Wagoner, Inc.: Accounts Payable, $20,400; Accounts Receivable, $15,200; Accumulated Depreciation-Building, $5,600; Accumulated Depreciation-Equipment, $6,800; Bonds Payable, $24,000; Building, $28,000; Cash, $12,480; Copyright, $2,480; Equipment, $60,800; Inventory, $16,000; Investment in Corporate Securities (long-term), $8,000; Investment in Six-Month Government Securities, $6,560; Common Stock, $18,000; Income Taxes Payable, $2,600; Land, $3,200; Prepaid Rent, $480; and Revenue Received in Advance, $1,120. Hide Prepare a classified balance sheet at December 31, 2014. Assume that this is Wagoner's first year of operations. Wagoner, Inc. Balance Sheet December 31, 2014 Assets Current assets $ $ Total current assets Investments Property, plant, and equipment $ $ $ Total property, plant, and equipment Intangible assets $ Total assets Liabilities Current liabilities $ $ Total current liabilities Long-term liabilities $ Total liabilities Stockholders' Equity $ Total stockholders' equity $ Total liabilities and stockholders' equity