Prepare a classified balance sheet for athens inc

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Reference no: EM13938364

FINANCIAL STATEMENT PRESENTATION OF OPERATING ASSETS

Athens, Inc., prepared the following post-closing trial balance at December 31, 2009:

	Debit	Credit
Cash	$ 3,100
Accounts receivable	28,000
Prepaid insurance	8,500
Land	21,200
Buildings	308,000
Equipment	124,000
Patent	9,800
Goodwill	42,400
Accounts payable		$ 7,600

	Debit	Credit
Accumulated depreciation, buildings		102,000
Accumulated depreciation, equipment		48,000
Unearned revenue		9,700
Interest payable		3,800
Income taxes payable		17,100
Notes payable (due in 10 years)		170,000
Common stock		125,000
Retained earnings		61,800
Totals	$545,000	$545,000

Required:

Prepare a classified balance sheet for Athens Inc. at December 31, 2009. Athens reports the three categories of operating assets in separate subsections of assets.

Reference no: EM13938364

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