Question

From the following information (given in scrambled order) obtainedfrom the accounting records of Alleg, Inc., as of December 31,2008, prepare a classified balance sheet in report form and astatement of stockholders’ equity. For assets, use theclassifications of current assets, plant and equipment,intangibles, and other assets. For liabilities, use theclassifications of current liabilities, and long-termliabilities.

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