Selected accounts from GermX Company's adjusted trial balance for the year ended December 31 follow. $5,200 Cash 23,500 Fair value adjustment-stock 70,500 Accounts receivable $ 10,500 (1,100) 2,500 13,500 Fair value adjustment-trading 600 Trading securities (at cost) Short-term stock investments (at cost) Equity method investments Held-to-maturity securities (long-term) Prepare the assets section of a classified balance sheet. Hint. Fair Value Adjustment-Trading increases trading securities; Fair Value Adjustment-Stock decreases stock investments. (Amounts deducted should be indicated by a minus sign.) Current assets Total current assets Long-term Investments GERMX COMPANY Assets Section of Balance Sheet December 31 Assets Total long-term investments Total assets

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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**Selected Accounts from GermX Company’s Adjusted Trial Balance for the Year Ended December 31**

- Trading securities (at cost): $5,200
- Short-term stock investments (at cost): $23,500
- Equity method investments: $70,500
- Held-to-maturity securities (long-term): $13,500
- Cash: $10,500
- Fair value adjustment—stock: $(1,100)
- Accounts receivable: $2,500
- Fair value adjustment—trading: $600

**Instructions:**
Prepare the assets section of a classified balance sheet.

**Hint:**
- Fair Value Adjustment—Trading increases trading securities.
- Fair Value Adjustment—Stock decreases stock investments.
- (Amounts deducted should be indicated by a minus sign.)

---

**GERMX COMPANY**

**Assets Section of Balance Sheet**

**December 31**

---

**Assets**

**Current Assets**
- (Add appropriate accounts)

**Total Current Assets**

---

**Long-term Investments**
- (Add appropriate accounts)

**Total Long-term Investments**

---

**Total Assets**
Transcribed Image Text:**Selected Accounts from GermX Company’s Adjusted Trial Balance for the Year Ended December 31** - Trading securities (at cost): $5,200 - Short-term stock investments (at cost): $23,500 - Equity method investments: $70,500 - Held-to-maturity securities (long-term): $13,500 - Cash: $10,500 - Fair value adjustment—stock: $(1,100) - Accounts receivable: $2,500 - Fair value adjustment—trading: $600 **Instructions:** Prepare the assets section of a classified balance sheet. **Hint:** - Fair Value Adjustment—Trading increases trading securities. - Fair Value Adjustment—Stock decreases stock investments. - (Amounts deducted should be indicated by a minus sign.) --- **GERMX COMPANY** **Assets Section of Balance Sheet** **December 31** --- **Assets** **Current Assets** - (Add appropriate accounts) **Total Current Assets** --- **Long-term Investments** - (Add appropriate accounts) **Total Long-term Investments** --- **Total Assets**
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