Factory. overhead and direct labor costs are often combined into a separate cost element and conversion costs.

Land The following is a December 31, 2021, post-closing trial balance for Almway Corporation Account Title Debits Credits Cash 45,000 Investment in equity securities 110,000 Accounts receivable 60,000 Inventory 200,000 Prepaid insurance (for the next 9 months) 9,000 90,000 Buildings 420,000 Accumulated depreciation-buildings $ 100,000 Equipment 110,000 Accumulated depreciation equipment 60,000 Patent (net) 10,000 Accounts payable 75,000 Notes payable 130,000 Interest payable 20,000 Bonds Payable 240,000 Common stock 300,000 Retained earnings 129,000 Totals $1,054,000 $1,054,000 Additional information: 1. The investment in equity securities account includes an investment in common stock of another corporation of management intends to hold for at least three years. The balance of these investments is intended to be sold in 2. The land account includes land which cost $25.000 that the company has not used and is currently listed for se 3 The cash account includes $15.000 restricter in a fun to nav honde navale that mature in 2014 and $23000 arch RI 74F R