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Please help The following 15 a December 31, 2024, post-closing trial balance for Almway Corporation Additional information: 1. The investment in equity secuities account includes
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The following 15 a December 31, 2024, post-closing trial balance for Almway Corporation Additional information: 1. The investment in equity secuities account includes an investment in common stock of another corporation of $37,000 which management intends to hold for at least three years. The balance of these irvestments is intended to be sold in the coming year 2. The land occount includes tand which cost $32.000 that the company has not used and is currentiy listed for sale 3. The cash account includes $22.000 restricted in a fund to pay bonds payable that mature in 2027 and $30.000 restricted in a theee-month Treasury bill. 4. The notes paynble occount consists of the following: a. a $37,000 note due in six months b. a$57000 note dive in six years. c a $57,000 note due in five annual installments of $11.400 eoch, with the next installment due February 15, 2025. 5. The $67,000 balance in occounts receivable is net of an allowance for uncollectible accounts of $7,000 6. The common stock account represents 107000 shares of no par vatue common stock esued and outstanding The corporation has 700.000 shares authoized. Required: Prepare a classified balance sheet for the Almway Corporation at December 31, 2024 Note: Amounts to be deducted shouid be indicated by a minus sign Step by Step Solution
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