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I'm having a hard time figuring out what I did wrong with this balance sheet. it's not wanting to balance, please help. Problem 3-5 (Algo)

I'm having a hard time figuring out what I did wrong with this balance sheet. it's not wanting to balance, please help.

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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. Credits $ Debits 85,000 67,000 282,000 34,000 77,000 322,000 $ 161,000 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 266,000 121,000 174,000 46,000 102,000 240,000 110,000 179,000 $1,133,000 $1,133,000 Additional information: 1. The short-term investments account includes $19,000 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 $226,000 (12,000) 66,000 2,000 $282,000 3. The notes payable account consists of two notes of $51,000 each. One note is due on September 30, 2021, and the other is due on November 30, 2022. 4. The mortaade pavable is a loan pavable to the bank in semiannual installments of $4.800 each plus interest. The next payment is IVU VENCIJU, LULL. 4. The mortgage payable is a loan payable to the bank in semiannual installments of $4,800 each plus interest. The next payment is due on October 31, 2021. Interest has been properly accrued and is included in accrued expenses. 5. Seven hundred thousand shares of no par common stock are authorized, of which 220,000 shares have been issued and are outstanding. 6. The land account includes $51,000 representing the cost of the land on which the company's office building resides. The remaining $26,000 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: $ ces Cash and cash equivalents Short-term investments 133,000 48,000 214,000 Accounts receivable (net) Prepaid expenses 34,000 2,000 Interest receivable Total current assets 431,000 Investments: Land held for sale $ 26,000 Notes receivable 66,000 92,000 Property, plant, and equipment: Land Equipment 51,000 266,000 Land 1 Equipment Buildings 51,000 266,000 322,000 639,000 (161,000) (121,000) 357,000 $ 880,000 Less: Accumulated depreciation-buildings Less: Accumulated depreciation equipment Net property, plant, and equipment Total assets Liabilities and Shareholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable (current) Mortgage payable ok 174,000 46,000 51,000 9,600 mt 7 nces 280,600 Total current liabilities Long-term liabilities: Notes payable (long-term) Mortgage payable $ 51,000 230,400 281,400 562,000 Total long-term liabilities Total liabilities Shareholders' equity: Retained earnings Common stock 179,000 110,000 Total shareholders' equity Total liabilities and shareholders' equity 289,000 851,000 $

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