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Question

Anderson Corporation had the following balances as of December 31, 2012:


Accounts

Payable 18,000

Accounts Receivable 15,000

Accumulated Depreciation - Buildings 150,000

Accumulated Depreciation - Equipment 50,000

Allowance for Uncollectible Accounts 2,000

Bonds Payable, due in 6 years 125,000

Buildings 170,000

Cash 25,000

Common Stock 60,000

Copyrights, unamortized balance 6,000

Equipment 80,000

Interest Payable 6,000

Inventories 38,000

Investments 42,000

Land 150,000

Mortgage 20,000

Notes Payable, due in 6 months 22,000

Prepaid Insurance 12,000

Retained Earnings 85,000


  1. Of the investment balance, the company has the intent and ability to dispose of $30,000 in the next 6 months.
  2. $5,000 in principle mortgage payments will due in the next fiscal year.


Required:


Prepare a classified balance sheet.

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