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Prepare classified assets section in the balance sheet

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Reference no: EM132764706

Question: Adam Company's Trial Balance includes the following accounts:

Cash 2000 / Prepaid rent $ 5000 / Unearned revenue $ 8000/ Buildings $200000/ Patents $ 12500/ Held to Maturity Securities $ 3500/ Trading Securities $ 4000/ Land held for Investment $ 50000/ Accumulated Depreciation of Buildings $ 120000/ Goodwill $ 6000/ Notes Payable $ 3500/ Timberland $ 40000/ Cash surrender Value of Life Insurance $ 9000 / Franchises $ 5000.

Instructions: Prepare Classified Assets Section in the Balance sheet.

Reference no: EM132764706

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