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The following is a December 31, 2024, post-closing trial balance for Almway Corporation. Account Title Debits Credits Cash $ 79,000 Investment in equity securities 144,000
The following is a December 31, 2024, post-closing trial balance for Almway Corporation. Account Title Debits Credits Cash $ 79,000 Investment in equity securities 144,000 Accounts receivable 77,000 Inventory 217,000 Prepaid insurance (for the next 9 months) 5,000 Land 124,000 Buildings 437,000 Accumulated depreciationbuildings $ 117,000 Equipment 127,000 Accumulated depreciationequipment 77,000 Patent (net) 27,000 Accounts payable 109,000 Notes payable 181,000 Interest payable 37,000 Bonds Payable 257,000 Common stock 351,000 Retained earnings 108,000 Totals $ 1,237,000 $ 1,237,000 Additional information: The investment in equity securities account includes an investment in common stock of another corporation of $47,000
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