Selected accounts from Gregor Co.s adjusted trial balance for the year ended December 31 follow. Prepare a
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Selected accounts from Gregor Co.’s adjusted trial balance for the year ended December 31 follow. Prepare a classified balance sheet.
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Total equity . Accounts payable. Accumulated depreciation-Equipment . Notes payable (due in 9 years) . Goodwill ...... Accumulated depletion-Silver mine.. Accumulated amortization-Patents $ 2,000 13,000 11,000 5,000 3,000 1,000 $50,000 4,000 6,000 30,000 20,000 15,000 Patents. Cash Land Equipment.. Silver mine
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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