Following is a list of items taken from the December 31, 2014, balance sheet of Reagan Company

Question:

Following is a list of items taken from the December 31, 2014, of Reagan Company (amounts omitted):
Accounts payable
Accrued expenses
Accumulated depreciation—buildings
Accumulated depreciation—machinery and equipment
Bonds payable
Buildings
Cash
Common stock
Contributed capital in excess of par
Current portion of long-term debt
Deferred tax liability (noncurrent)
Finished products inventory
Goodwill
Income taxes payable
Land
Machinery and equipment
Notes payable to banks (short term)
Preferred stock
Prepaid expenses
Raw materials
Retained earnings
Short-term investments
Trade accounts receivable
Trademarks
Work-in-process inventory

Required:
Using the above information, prepare a classified in good form.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...