1 The following is the ending balances of accounts at June 30, 2021, for Excell Company Credits ts Debits $ 109,000 91, eee 306,eee 58,eee 101,eee 346,00 $ 173,000 Book Account Title Cash Short-term investments Accounts receivable (net) Prepaid expenses (for the next 12 months) Land Buildings Accumulated depreciation buildings Equipment Accumulated depreciation-equipment Accounts payable Accrued liabilities Notes payable Mortgage payable Common stock Retained earnings Totals 278,000 Print 133, eee 186,000 58,eee 126,000 260, eee 23e, een 123, eee $1,289,600 erences $1,289,000 Additional information: 1. The short-term investments account includes $31,000 in U.S. treasury bills purchased in May. The bills mature in July, 2021. 2. The accounts receivable account consists of the following: a. Amounts owed by customers b. Allowance for uncollectible accounts-trade customers c. Nontrade notes receivable (due in three years) d. Interest receivable on notes (due in four months) Total $245,000 (20,eee) 78,000 3,000 $386,000 Additional information: 1. The short-term investments account includes $31,000 in U.S. treasury bills purchased in May. The bills mature in July, 2021. 2. The accounts receivable account consists of the following: a. Amounts owed by customers b. Allowance for uncollectible accounts-trade customers c.Nontrade notes receivable (due in three years) d. Interest receivable on notes (due in four months) Total $245,000 (ze, eee) 78,000 3,600 $386,000 ces 3. The notes payable account consists of two notes of $63,000 each. One note is due on September 30, 2021, and the other is due on November 30, 2022 4. The mortgage payable is a loan payable to the bank in semiannual installments of $6,000 each plus interest. The next payment is due on October 31, 2021. Interest has been properly accrued and is included in accrued expenses. 5. Eight hundred thousand shares of no par common stock are authorized, of which 460,000 shares have been issued and are outstanding 6. The land account includes $63,000 representing the cost of the land on which the company's office building resides. The remaining $38,000 is the cost of land that the company is holding for investment purposes. Required: Prepare a classified balance sheet for the Excell Company at June 30, 2021. (Amounts to be deducted should be indicated by a minus sign.) EXCELL COMPANY Balance Sheet At June 30, 2021 Assets Current assets
