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Exercise 8-21 Preparing a balance sheet LO P1, P3, P4 Selected accounts from Gregor Co.'s adjusted trial balance for the year ended December 31 follow. Prepare a classified balance sheet Note On the company's balance sheet, accumulated depreciation is subtracted from equipment, accumulated amortization is subtracted from patents, and accumulated depletion is subtracted from silver mine $ 2,6004 Total equity Patents Cash Land Equipment Silver mine $50,000 4.000 6,000 30,000 20,000 15,000 Accounts payable Accumulated depreciation Equipment Notes payable (due in 9 years) Goodwill Accumulated depletion-silver sine Accumulated amortization-Patents 13,000 11,000 5,000 3,000 1.000 GREGOR CO. Balance Sheet December 31 Assets Current assets Cash Plant assets December 31 Assets Current assets Cash 0 0 Plantas Equipment Accumulated depreciation Equipment Siver mine Accumulated depletion. Silvermine Land Total plant assets Intangle Patents Accumulated amoration Parent Good Total intangibles Total Liabilities Current abilities Account Date $ creta O lip 96 2 3 LE 4 5 6 09 & 7 8 00 W mi E R . Y U s D F G . J K C v B N M Patents Accumulated amortization Patients Goodwill Total Intangible assets Total assets Liabilities Current labilis Accounts payable $ Long term liabilities Notes payable Total Lablities Equity Totatequity Total abilities and equity 5 3016 Next > to SC o hp 6 3 $ 4 96 5 6 00 8 W E T Y U R. F s D G H J U V B N. M

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