Question

The following data, presented in alphabetical order, are taken from the records of
Radar Corporation.
Accounts payable................... $ 240,000
Accounts receivable.................. 140,000
Accumulated depreciation—buildings..............180,000
Accumulated depreciation—equipment...........52,000
Allowance for doubtful accounts.................6,000
Bonds payable (10%, due 2020)..............500,000
Buildings.......................950,000
Cash..........................42,000
Common stock ($10 par value; 500,000 shares authorized,
150,000 shares issued).................1,500,000
Dividends payable...................80,000
Equipment........................275,000
Goodwill.......................200,000
Income taxes payable..................120,000
Inventory.......................170,000
Investment in Sasse common stock (10% ownership), at cost....278,000
Investment in Mara common stock (30% ownership), at equity.380,000
Land........................390,000
Market adjustment—available-for-sale securities (Dr)......8,000
Notes payable (due 2013).................70,000
Paid-in capital in excess of par—common stock.......130,000
Premium on bonds payable..................40,000
Prepaid insurance.....................16,000
Retained earnings...................103,000
Short-term investments, at fair value (and cost)........180,000
Unrealized gain—available-for-sale securities...........8,000
The investment in Sasse common stock is considered to be a long-term available-for-sale security.
Instructions
Prepare a classified balance sheet at December 31, 2012.



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  • CreatedOctober 28, 2011
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