The common stock account represents 400,000 shares of no par value common stock issued and outstanding. The corporation has 800,000 shares authorized.

Required: Prepare a classified balanced sheet for the Weismuller Publishing Company at December 31. 2018.

The following is the ending balances of accounts at June 30, 2018 for Excell Company.

Account Title	Debit	Credit
Cash	$83,000
Short-term investments	65,000
Accounts receivable	280,000
Prepaid expenses (for the next 12 months)	32,000
Land	75,000
Buildings	320,000
Accumulated Depreciation-Buildings		$ 160,000
Equipment	265,000
Accumulated Depreciation- Equipment		120,000
Accounts payable		173,000
Accrued expenses		45,000
Notes payable		100,000
Mortage payable		250,000
Common stock		100,000
retained earnings		172,000
totals	$1,120,000	$1,120,000

Additional Information:

1. The short-term investments account includes $18,000 in United States treasury bills purchased in May. This bill matures in July.

2. The accounts receivable account consists of the following.

a) amounts owed by customers	$225,000
b) allowance for uncollectible accounts - trade customers	(15,000)
c) nontrade note receivable (due in three years)	65,000)
d) interest receivable on note (due in four months)	5,000
total	$280,000

3. The notes payable account consists of two notes of $50,000 each. One note is due September 30, 2018 and the other is due on November 30, 2019.

4. The mortgage payable is payable in semiannual installments of $5,000 each plus interest. The next payment is due on October 31, 2018. Interest has been properly acccrued and is included in accrued expenses.

5. Five hundred thousand shares of no par common stock are authorized, of which 200,000 shares have been issued and are outing.

6. The land account includes $50,000 representing the cost of land on which the company's office building resides. The remaining $25,000 is the cost of land that the company is holding for investment purpose.

Required: Prepare a classified balance sheet for the Excell Company at June 30, 2018.

EXCELL COMPANY
Balance Sheet
June 30 2016

Current assets:

____________

Short-term investments

Accounts receivable, net of allowance of $

____________

Prepaid expenses

Total current assets

___________

Investments:

___________

___________

Total investments

___________

Property, plant and equipment

__________

Buildings

Equipment

___________

Less:

Net property, plant and equipment

TOTAL ASSETS

Liabilities and Stockholders' Equity

Current liabilities

Accounts payable

_________

Notes payable

_________

Total current liabilities

Long-term liabilities

_________

_________

Total long-term liabilities

Stockholders' Equity

__________

__________

Total stockholders' equity

TOTAL LIABILITIES & STOCKHOLDERS' EQUITY