Explore BrainMass

Classified Balance Sheet & Statement of Stockholders' Equity

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

© BrainMass Inc. brainmass.com June 20, 2018, 10:50 am ad1c9bdddf

Solution Summary

Classified balance sheets and statements of stockholders equity is examined.