Le Rouge Corporation has the following accounts included in its 6/30/2005 trial balance:
Accounts Receivable, $110,000; Inventories, $290,000; Allowance for Doubtful Accounts,
$8,000; Patents, $72,000; Prepaid Insurance, $9,500; Accounts Payable, $77,000; Cash $27,000.
Prepare the current asset section of the balance sheet listing the accounts in proper sequence.
Included in the Cats and Dogs Company's 9/30/2005 trial balance are the following accounts:
Prepaid Rent, $5,200; Held-to-Maturity Securities, $61,000; Unearned Fee Revenue, $17,000;
Land held for Investment, $39,000; Long-term Receivables, $42,000. Prepare the long-term
investments section of the balance sheet.
Adam Ant Company's 12/31/2005 trial balance includes the following accounts: Inventories,
$120,000; Buildings, $207,000; Accumulated Depreciation-Equipment, $19,000; Equipment,