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 21,000 share |
$12,000 |
Additional paid-in capital |
38,000 |
Cash |
14,000 |
Marketable securities |
17,000 |
Accounts receivable |
26,000 |
Accounts Payable |
16,000 |
Current maturities of long-term debt |
11,000 |
Mortgages payable |
80,000 |
Bonds payable |
65,000 |
Inventory |
33,000 |
Land and buildings |
57,000 |
Machinery and equipment |
120,000 |
Goodwill |
13,000 |
Patents |
9,000 |
Other assets |
45,000 |
Deferred income taxes (long-term liability) |
18,000 |
Retained earnings |
33,000 |
Accumulated depreciation |
61,000 |
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.
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