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    Classified Balance Sheet & Statement of Stockholders' Equity

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    From the following information (given in scrambled order) obtained from the accounting records of Alleg, Inc., as of December 31, 2008, prepare a classified balance sheet in report form and a statement of stockholders' equity. For assets, use the classifications of current assets, plant and equipment, intangibles, and other assets. For liabilities, use the classifications of current liabilities, and long-term liabilities.

    Common stock, authorized 21,000 share
    At $1 par value, issued 10,000 shares $10,000
    Additional paid-in capital $38,000
    Cash $13,000
    Marketable securities $17,000
    Accounts receivable $26,000
    Accounts Payable $15,000
    Current maturities of long-term debt $11,000
    Mortgages payable $80,000
    Bonds payable $70,000
    Inventory $30,000
    Land and buildings $57,000
    Machinery and equipment $125,000
    Goodwill $8,000
    Patents $10,000
    Other assets $50,000
    Deferred income taxes (long-term liability) $18,000
    Retained earnings $33,000
    Accumulated depreciation $61,000

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    Solution Summary

    Classified balance sheets and statements of stockholders equity is examined.