Classifications of current assets

Reference no: EM131004071

The following information was obtained from the accounts of Alleg, Inc., as of December 31, 2008. It is presented in scrambled order.

Common stock, authorized 21,000 shares
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

Required:

Prepare a classified balance sheet in report form. 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.

Reference no: EM131004071

Questions Cloud

Problem regarding the independent assumptions : Compute the amount of dividends that must have been paid to preferred stockholders and common stock- holders in each of the three years, given the following four independent assumptions:

Amount of minority interest on the balance sheet : What would be the amount of minority interest on the balance sheet of Corvallis Corporation? How should minority interest be classified for financial statement analysis purposes? What would be the minority share of earnings on the income statement..

Government of uganda expropriated a plant : How would each of these items be reflected in the year-end balance sheet, including notes?

How have interest rates changed over the past year : Each day, the Wall Street Journal high- lights a key interest rate in a graph in the left column of the first page of the Money and Investing section. Compare the graphs over several days and you will see the movements in rates for different secur..

Classifications of current assets : Prepare a classified balance sheet in report form. 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..

Accounts of airlines international dated december : Required: Prepare a classified balance sheet in report form.

How a wage rate was determined in the market for shoemakers : New England shoe manufacturers hired workers in a competitive labor market. Use demand and supply curves for labor to illustrate how a wage rate was determined in the market for shoemakers. Shoemakers later formed a union and negotiated a higher w..

Identify education and skill requirements of the position : On Tuesday the Wall Street Journal includes articles and information on careers in the Market- place section.Turn to the Career Opportunities section where employment opportunities are detailed. Read several position descriptions for jobs that are..

Exploration of the corporate website of the company : Pick one of the products on your list to use in an exploration of the corporate website of the company who makes it. Using course terminology and concepts select three areas to discuss that you found the most interesting

User Account

All Pages