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The following is the ending balances of accounts at June 30, 2024, for Excell Company. Account Title Cash Short-term investments Accounts receivable (net) Prepaid

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The following is the ending balances of accounts at June 30, 2024, for Excell Company. Account Title Cash Short-term investments Accounts receivable (net) Prepaid expenses (for the next 12 months) Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Accounts payable Accrued liabilities Notes payable Mortgage payable Common stock Retained earnings Totals Debits $ 113,000 Credits 95,000 310,000 62,000 105,000 350,000 $ 175,000 280,000 135,000 188,000 60,000 130,000 350,000 250,000 27,000 $ 1,315,000 $ 1,315,000 Additional information: 1. The short-term investments account includes $33,000 in U.S. treasury bills purchased in May. The bills mature in July, 2024. 2. The accounts receivable account consists of the following: a. Amounts owed by customers b. Allowance for uncollectible accounts-trade customers c. Nontrade notes receivable (due in three years) d. Interest receivable on notes (due in four months) Total $ 246,000 (19,000) 80,000 3,000 $ 310,000 3. The notes payable account consists of two notes of $65,000 each. One note is due on September 30, 2024, and the other is due on November 20.2025 3. The notes payable account consists of two notes of $65,000 each. One note is due on September 30, 2024, and the other is due on November 30, 2025. 4. The mortgage payable is a loan payable to the bank in semiannual installments of $7,000 each plus interest. The next payment is due on October 31, 2024. Interest has been properly accrued and is included in accrued expenses. 5. Eight hundred thousand shares of no par common stock are authorized, of which 500,000 shares have been issued and are outstanding. 6. The land account includes $65,000 representing the cost of the land on which the company's office building resides. The remaining $40,000 is the cost of land that the company is holding for investment purposes. Required: Prepare a classified balance sheet for the Excell Company at June 30, 2024. Note: Amounts to be deducted should be indicated by a minus sign. Current assets: Cash and cash equivalents Short-term investments Accounts receivable (net) Allowance for uncollectible accounts EXCELL COMPANY Balance Sheet At June 30, 2024 Assets $ 113,000 95,000 Current assets: Total current assets Investments: Property, plant, and equipment: EXCELL COMPANY Balance Sheet At June 30, 2024 Assets 0 0 0 Net property, plant, and equipment Total assets Current liabilities: Total current liabilities Long-term liabilities: Total long-term liabilities Total liabilities Shareholders' equity: Total shareholders' equity 0 $ 0 Liabilities and Shareholders' Equity Total liabilities and shareholders' equity 0 0 0 0 $ 0

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