The following is the ending balances of accounts at June 30, 2021, for Excell Company Account Title Cash Debits Credits $ 113,000 Short-term investments 95.000 Accounts receivable (net) 310.000 Prepaid expenses (for the next 12 months) 62,000 Land 105.000 Buildings 350,000 Accumulated depreciation-buildings $ 175,000 Equipment 280,000 Accumulated depreciation equipment 135,000 Accounts payable 180,000 Accrued liabilities 60,000 Notes payable 130,000 Mortgage payable 350,000 Common stock 250,000 Retained earnings 27.000 Totals $1,315,000 61,315,000 I cos Additional information: 1. The short-term investments account includes $33,000 in U.S. treasury bills purchased in May. The bills mature in July, 2021 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 4246,000 (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, 2021, and the other is due on November 30, 2022 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, 2021. 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, 2021. (Amounts to be deducted should be indicated by a minus sign.) count includes $65,000 representing the cost of the land on which the company's office building resides. The remainin $40,000 is the cost of land that the company is holding for rent purpones Required: Prepare a cassified balance sheet for the Excell Company at June 30, 2021 (Amounts to be deducted should be indicated by a minus sign) Book EXCELL COMPANY Be the At 14, 2021 Assets Current 3 Total current Investments Property, plant and equipment Ne property, part and equipment To Llabetes and Shareholdere Equity Current sites Total current Long-mabutis Totes renden usandro Tees and there
