Selected accounts from GermX Co.s adjusted trial balance for the year ended December 31 follow. Prepare the
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Selected accounts from GermX Co.’s adjusted trial balance for the year ended December 31 follow. Prepare the assets section of a classified balance sheet. Fair Value Adjustment—Stock decreases stock investments.
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Trading securities (at cost)... Short-term stock investments (at cost) . Equity method investments.... Held-to-maturity securities (long-term)... $ 5,000 Cash $10,000 23,000 Fair value adjustment-Stock (1,000) 70,000 Accounts receivable.... 2,000 13,000 Fair value adjustment-Trading.. 500
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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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