The following is a December 31, 2021, post-closing trial balance for Almway Corporation Account Title Cash Investment in equity Securities Accounts receivable Inventory Prepaid insurance (for the next 9 months) Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation equipment Patent (net) Accounts payable Notes payable Interest payable Bonds Payable Common stock Retained earnings Totals Debits Credits $ 67,000 132,000 71,800 211,000 9,000 112,000 431,000 $ 111,080 121,000 71,090 21,080 97,000 163,080 31,898 251,000 333,080 118,000 $1,175,000 $1,175,000 Additional information: 1. The investment in equity securities account includes an investment in common stock of another corporation of $41,000 which management intends to hold for at least three years. The balance of these investments is intended to be sold in the coming year. 2. The land account includes land which cost $36,000 that the company has not used and is currently listed for sale 3. The cosh account includes $26,000 restricted in a fund to pay bonds payable that mature in 2024 and $34,000 restricted in a three month Treasury bill 4. The notes payable account consists of the following: 2. a $41,000 note due in six months. b. a $61.000 note due in six years c. a $61,000 note due in five annual installments of $12.200 each with the next installment due February 15, 2022 Prey 12 of 15 !!! Next > P O W a (hp Ch 1, 2, 3, and 4 Saved Additional information: 1. The investment in equity securities account includes an investment in common stock of another corporation of $41,000 which management intends to hold for at least three years. The balance of these investments is intended to be sold in the coming year. 2. The land account includes land which cost $36,000 that the company has not used and is currently listed for sale. 3. The cash account includes $26.000 restricted in a fund to pay bonds payable that mature in 2024 and $34,000 restricted in a three-month Treasury bill. 4. The notes payable account consists of the following: a. a $41,000 note due in six months. b. a $61,000 note due in six years. c. a $61,000 note due in five annual installments of $12,200 each, with the next installment due February 15, 2022 5. The $71,000 balance in accounts receivable is net of an allowance for uncollectible accounts of $8,000, 6. The common stock account represents 111,000 shares of no par value common stock issued and outstanding. The corporation has 600,000 shares authorized. Required: Prepare a classified balance sheet for the Almway Corporation at December 31, 2021 (Amounts to be deducted should be indicated by a minus sign.) ALMWAY CORPORATION Balance Sheet At December 31, 2021 Assets S Current assets Cash and cash equivalents Short-term investments 41,000 91.000 18 a O hp
