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The following is a December 31, 2024, post-closing trial balance for Almway Corporation. Account Title Debits Credits Cash $ 53,000 Investment in equity securities 118,000
The following is a December 31, 2024, post-closing trial balance for Almway Corporation. Account Title Debits Credits Cash $ 53,000 Investment in equity securities 118,000 Accounts receivable 64,000 Inventory 204,000 Prepaid insurance (for the next 9 months) 8,000 Land 98,000 Buildings 424,000 Accumulated depreciationbuildings $ 104,000 Equipment 114,000 Accumulated depreciationequipment 64,000 Patent (net) 14,000 Accounts payable 83,000 Notes payable 142,000 Interest payable 24,000 Bonds Payable 244,000 Common stock 312,000 Retained earnings 124,000 Totals $ 1,097,000 $ 1,097,000 Additional information: The investment in equity securities account includes an investment in common stock of another corporation of $34,000 w
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