Selected accounts from GermX Company's adjusted trial balance for the year ended December 31 follow. Trading securities (at cost) $ 8,400 Cash Short-term stock investments (at cost) Equity method investments 31,500 Fair value adjustment-stock 78,500 Accounts receivable Held-to-maturity securities (long-term) $ 18,500 (2,700) 10,500 21,500 Fair value adjustment-trading 2,200 Prepare the assets section of a classified balance sheet. Hint. Fair Value Adjustment-Trading increases trading securities; Fair Value Adjustment-Stock decreases stock investments. Note: Amounts deducted should be indicated by a minus sign. Current assets Cash Total current assets Long-term Investments GERMX COMPANY Assets Section of Balance Sheet December 31 Assets 0 0 0
Selected accounts from GermX Company's adjusted trial balance for the year ended December 31 follow. Trading securities (at cost) $ 8,400 Cash Short-term stock investments (at cost) Equity method investments 31,500 Fair value adjustment-stock 78,500 Accounts receivable Held-to-maturity securities (long-term) $ 18,500 (2,700) 10,500 21,500 Fair value adjustment-trading 2,200 Prepare the assets section of a classified balance sheet. Hint. Fair Value Adjustment-Trading increases trading securities; Fair Value Adjustment-Stock decreases stock investments. Note: Amounts deducted should be indicated by a minus sign. Current assets Cash Total current assets Long-term Investments GERMX COMPANY Assets Section of Balance Sheet December 31 Assets 0 0 0
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Selected accounts from GermX Company's adjusted trial balance for the year ended December 31 follow. Prepare the assets section of a classified balance sheet . Hint. Fair Value Adjustment-Trading increases trading securities; Fair Value Adjustment-Stock decreases stock investments. Note: Amounts deducted should be indicated by a minus sign.
![Selected accounts from GermX Company's adjusted trial balance for the year ended December 31 follow.
Trading securities (at cost)
$ 8,400 Cash
Short-term stock investments (at cost)
Equity method investments
31,500 Fair value adjustment-stock
78,500 Accounts receivable
Held-to-maturity securities (long-term)
$ 18,500
(2,700)
10,500
21,500 Fair value adjustment-trading
2,200
Prepare the assets section of a classified balance sheet. Hint. Fair Value Adjustment-Trading increases trading securities; Fair Value
Adjustment-Stock decreases stock investments.
Note: Amounts deducted should be indicated by a minus sign.
Current assets
Cash
Total current assets
Long-term Investments
GERMX COMPANY
Assets Section of Balance Sheet
December 31
Assets
0
0
0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F575a60af-e773-48c7-b937-6da6eadc78e2%2F297c9e53-89b5-430d-85ef-a22d3a04ed4c%2Fbj2eog_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Selected accounts from GermX Company's adjusted trial balance for the year ended December 31 follow.
Trading securities (at cost)
$ 8,400 Cash
Short-term stock investments (at cost)
Equity method investments
31,500 Fair value adjustment-stock
78,500 Accounts receivable
Held-to-maturity securities (long-term)
$ 18,500
(2,700)
10,500
21,500 Fair value adjustment-trading
2,200
Prepare the assets section of a classified balance sheet. Hint. Fair Value Adjustment-Trading increases trading securities; Fair Value
Adjustment-Stock decreases stock investments.
Note: Amounts deducted should be indicated by a minus sign.
Current assets
Cash
Total current assets
Long-term Investments
GERMX COMPANY
Assets Section of Balance Sheet
December 31
Assets
0
0
0
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