Selected accounts from GermX Company's adjusted trial balance for the year ended December 31 follow. Trading securities (at cost) $ 18,500 (2,700) 10,500 21,500 Fair value adjustment-trading 2,200 31,500 Fair value adjustment-stock 78,500 Accounts receivable $ 8,400 Cash 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. 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) $ 18,500 (2,700) 10,500 21,500 Fair value adjustment-trading 2,200 31,500 Fair value adjustment-stock 78,500 Accounts receivable $ 8,400 Cash 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. 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: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Selected accounts from GermX Company's adjusted trial balance for the year ended December 31 follow.
Trading securities (at cost)
$ 18,500
(2,700)
10,500
21,500 Fair value adjustment-trading
2,200
31,500 Fair value adjustment-stock
78,500 Accounts receivable
$ 8,400 Cash
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.
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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