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can i please get help with this The following are the ending balances of accounts at December 31,2024 , for the Valley Pump Corporation. Additional
can i please get help with this
The following are the ending balances of accounts at December 31,2024 , for the Valley Pump Corporation. Additional information: 1. The $122,000 balance in the land account consists of $101,000 for the cost of land where the plant and office bulldings are located. The remaining $21,000 represents the cost of land being held for speculation. 2. The $46,000 balance in the investment in equity securities account represents an investment in the commin stock of another corporation, Valley intends to sell one-half of the stock within the next year. 3. The notes payable account consists of a 5102,000 note due in six months and a $153,000 note due in three annual installments of 351,000 each, with the first payment due in August of 2025 . Required: Prepare a classified balance shect for the Valley Pump Corporation at December 31,2024 , Use the additional information to help determine appropriate classifications and account balances. Note: Amounts to be deducted should be indicated by a minus sign. VALLEY PUMP CORPORATION Balance Sheet At December 31, 2024 Assets Current assets: \begin{tabular}{|l|} \hline \\ \hline \\ \hline \\ \hline Total current assets \\ \hline \end{tabular} Investments: Property, plant, and equipment: The following are the ending balances of accounts at December 31,2024 , for the Valley Pump Corporation. Additional information: 1. The $122,000 balance in the land account consists of $101,000 for the cost of land where the plant and office bulldings are located. The remaining $21,000 represents the cost of land being held for speculation. 2. The $46,000 balance in the investment in equity securities account represents an investment in the commin stock of another corporation, Valley intends to sell one-half of the stock within the next year. 3. The notes payable account consists of a 5102,000 note due in six months and a $153,000 note due in three annual installments of 351,000 each, with the first payment due in August of 2025 . Required: Prepare a classified balance shect for the Valley Pump Corporation at December 31,2024 , Use the additional information to help determine appropriate classifications and account balances. Note: Amounts to be deducted should be indicated by a minus sign. VALLEY PUMP CORPORATION Balance Sheet At December 31, 2024 Assets Current assets: \begin{tabular}{|l|} \hline \\ \hline \\ \hline \\ \hline Total current assets \\ \hline \end{tabular} Investments: Property, plant, and equipment Step by Step Solution
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