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The following is a December 31, 2024, post-closing trial balance for Almway Corporation. Account Title Debits Credits Cash $ 63,000 Investment in equity securities 128,000

The following is a December 31, 2024, post-closing trial balance for Almway Corporation.

Account Title Debits Credits
Cash $ 63,000
Investment in equity securities 128,000
Accounts receivable 69,000
Inventory 209,000
Prepaid insurance (for the next 9 months) 7,000
Land 108,000
Buildings 429,000
Accumulated depreciationbuildings $ 109,000
Equipment 119,000
Accumulated depreciationequipment 69,000
Patent (net) 19,000
Accounts payable 94,000
Notes payable 157,000
Interest payable 29,000
Bonds Payable 249,000
Common stock 327,000
Retained earnings 117,000
Totals $ 1,151,000 $ 1,151,000

Additional information:

  1. The investment in equity securities account includes an investment in common stock of another corporation of $39,000 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 $34,000 that the company has not used and is currently listed for sale.
  3. The cash account includes $24,000 restricted in a fund to pay bonds payable that mature in 2027 and $32,000 restricted in a three-month Treasury bill.
  4. The notes payable account consists of the following:

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