Solved by verified expert :From the following information (given in scrambled order) obtained from the accounting records of Alleg, Inc., as of December 31, 2008, prepare a classified balance sheet in report form and a statement of stockholders’ equity. For assets, use the classifications of current assets, plant and equipment, intangibles, and other assets. For liabilities, use the classifications of current liabilities, and long-term liabilities.Common stock, authorized 21,000 shareAt 000 shareAt $1 par value par value, issued 10,000 shares $10,000Additional paid-in capital $38,000Cash $13,000Marketable securities $17,000Accounts receivable $26,000Accounts Payable $15,000Current maturities of long-term debt $11,000Mortgages payable $80,000Bonds payable $70,000Inventory $30,000Land and buildings $57,000Machinery and equipment $125,000Goodwill $8,000Patents $10,000Other assets $50,000Deferred income taxes (long-term liability) $18,000Retained earnings $33,000Accumulated depreciation $61,000
Expert answer:ACC – Alleg, Inc., Problem
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