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5 10 points 00:49:41 Problem 3-5 (Algo) Balance sheet preparation [LO3-2, 3-3] The following is the ending balances of accounts at June 30, 2021,
5 10 points 00:49:41 Problem 3-5 (Algo) Balance sheet preparation [LO3-2, 3-3] The following is the ending balances of accounts at June 30, 2021, for Excell Company. 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 Debits $ 101,000 83,000 298,000 50,000 Credits 93,000 338,000 $ 169,000 274,000 129,000 182,000 54,000 118,000 290,000 190,000 105,000 $1,237,000 $1,237,000 Additional information: 1. The short-term investments account includes $27,000 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 h Allowance for uncollectible accounts_trade customere $244,000 125 0001
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