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Problem 3-3 (Static) Balance sheet preparation [LO3-2, 3-3] The following is a December 31, 2024, post-closing trial balance for Almway Corporation. Account Title Cash
Problem 3-3 (Static) Balance sheet preparation [LO3-2, 3-3] The following is a December 31, 2024, post-closing trial balance for Almway Corporation. Account Title Cash Investment in equity securities Accounts receivable Debits Credits $ 45,000 110,000 60,000 200,000 Inventory Prepaid insurance (for the next 9 months) 9,000 Land 90,000 Buildings 420,000 Accumulated depreciation-buildings $ 100,000 Equipment 110,000 Accumulated depreciation-equipment 60,000 Patent (net) Accounts payable Notes payable Interest payable Bonds Payable Common stock Retained earnings Totals 10,000 75,000 130,000 20,000 240,000 300,000 129,000 $ 1,054,000 $ 1,054,000
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