Classified Balance Sheets
The following (given in scrambled order) are accounts and balances from the accounting records of Alleg Inc. as of December 31 2012 after the books were closed for the year.
Common stock authorized 21000 share
At $1 par value issued 12000 shares
$12000
Additional paid-in capital
38000
Cash
14000
Marketable securities
17000
Accounts receivable
26000
Accounts Payable
16000
Current maturities of long-term debt
11000
Mortgages payable
80000
Bonds payable
65000
Inventory
33000
Land and buildings
57000
Machinery and equipment
120000
Goodwill
13000
Patents
9000
Other assets
45000
Deferred income taxes (long-term liability)
18000
Retained earnings
33000
Accumulated depreciation
61000
Bonds and mortgages generally have 10-30 years until maturity. Marketable securities are short-term investments that can be converted to cash in a matter of minutes.
Required: