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The following is a December 3 1 , 2 0 2 4 , post - closing trial balance for Almway Corporation. Additional information: The investment
The following is a December postclosing trial balance for Almway Corporation.
Additional information:
The investment in equity securities account includes an investment in common stock of another corporation of $ wh management intends to hold for at least three years. The balance of these investments is intended to be sold in the coming
The land account includes land which cost $ that the company has not used and is currently listed for sale.
The cash account includes $ restricted in a fund to pay bonds payable that mature in and $ restricted in threemonth Treasury bill.
The notes payable account consists of the following:
a a $ note due in six months.
b a $ note due in six years.
c a $ note due in five annual installments of $ each, with the next installment due February
The $ balance in accounts receivable is net of an allowance for uncollectible accounts of $
The common stock account represents shares of no par value common stock issued and outstanding. The corporat has shares authorized.
Required:
Prepare a classified balance sheet for the Almway Corporation at December
Note: Amounts to be deducted should be indicated by a minus sign.
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