TOPIC #2 - Posted Tuesday- The properly classified Balance Sheet 1) Prepare a properly formatted Asset section of the Balance Sheet Trading securities 6,000 Accumulated depreciation on equipment and furniture 15,000 Cash 11,000 Inventory 30,000 Equipment 25,000 Patent 4,000 Investments: Equity 100,000 Prepaid expenses 2,000 Land 18,000 2) Prepare a properly formatted Asset section of the Balance Sheet Debit Credit Accumulated depreciation on equipment 24,000 Trading securities 6,000 Accumulated depreciation on furniture 15,000 Cash 11,000 Inventory 30,000 Equipment 150,000 Furniture 35,000 Patent 4,000 Allowance for Uncollectible accounts 6,000 Accounts Receivable 40,000 Prepaid expenses 2,000 Land held for future business site 18,000 Goodwill 20,000 Buildings 300,000 Accumulated depreciation on buildings 120,000