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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, 2024, for Excell Company. Account
Problem 3-5 (Algo) Balance sheet preparation [LO3-2, 3-3] The following is the ending balances of accounts at June 30, 2024, for Excell Company. 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 Debits $ 121,000 Credits 103,000 318,000 70,000 113,000 358,000 $ 179,000 284,000 139,000 192,000 64,000 138,000 320,000 290,000 45,000 $ $ 1,367,000 1,367,000
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