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he adjusted trial balance of Lawrence Corporation showed the following selected account
balances (all debits) at December 31, the end of the annual reporting period.
Item Amount
Cash $96,800
Patent, net 30,800
Accounts receivable (net of allowance) 198,000
Prepaid rent expense (current) 2,200
Marketable equity securities (current) 110,000
Franchise, net 39,600
Rent revenue receivable (current) 6,600
Goodwill 132,000
Trademark 41,800
Prepaid insurance (two-thirds is long-term) 13,200
Copyright, net 26,400
Equipment (net of accumulated depreciation) 660,000
Notes receivable, trade (short-term) 22,000
R&D expense 85,800
Noncompete agreement 26,400
Lawrence Corp. Balance Sheet-Selected Balances December 31 Assets Current assets
begin{tabular}{lrrr|r} hline Cash & & 96,800  hline Accounts receivable, net & & 198,000 
hline Prepaid rent expense & & 2,200  hline Marketable equity securities & & 110,000 
hline Rent revenue receivable & & 6,600  hline Notes receivable, trade & & 22,000  hline
Prepaid insurance & & 4,400  hline Total current assets & & 440,000  hline Property, plant,
and equipment & &  hline Equipment, net & & 660,000  hline Intangible assets & &  hline
Patent, net & & 30,800  hline Goodwill & & 132,000  hline Trademark & & 41,800  hline
Copyright, net & & 26,400  hline Franchise, net & & 39,600  hline Noncompete agreement
& & 26,400  hline Total intangible assets & & 297,000  hline Other assets & &  hline
Prepaid insurance & & 8,800  hline Total assets &  hline & & 0  hline end{tabular}

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he adjusted trial balance of Lawrence Corporation showed the following.pdf

  • 1. he adjusted trial balance of Lawrence Corporation showed the following selected account balances (all debits) at December 31, the end of the annual reporting period. Item Amount Cash $96,800 Patent, net 30,800 Accounts receivable (net of allowance) 198,000 Prepaid rent expense (current) 2,200 Marketable equity securities (current) 110,000 Franchise, net 39,600 Rent revenue receivable (current) 6,600 Goodwill 132,000 Trademark 41,800 Prepaid insurance (two-thirds is long-term) 13,200 Copyright, net 26,400 Equipment (net of accumulated depreciation) 660,000 Notes receivable, trade (short-term) 22,000 R&D expense 85,800 Noncompete agreement 26,400 Lawrence Corp. Balance Sheet-Selected Balances December 31 Assets Current assets begin{tabular}{lrrr|r} hline Cash & & 96,800 hline Accounts receivable, net & & 198,000 hline Prepaid rent expense & & 2,200 hline Marketable equity securities & & 110,000 hline Rent revenue receivable & & 6,600 hline Notes receivable, trade & & 22,000 hline Prepaid insurance & & 4,400 hline Total current assets & & 440,000 hline Property, plant, and equipment & & hline Equipment, net & & 660,000 hline Intangible assets & & hline Patent, net & & 30,800 hline Goodwill & & 132,000 hline Trademark & & 41,800 hline Copyright, net & & 26,400 hline Franchise, net & & 39,600 hline Noncompete agreement & & 26,400 hline Total intangible assets & & 297,000 hline Other assets & & hline Prepaid insurance & & 8,800 hline Total assets & hline & & 0 hline end{tabular}