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The following is a December 31, 2021, post-closing trai balance for Almway Corporation. Additionel information: 1. The investment in equity securtes account includes an investment
The following is a December 31, 2021, post-closing trai balance for Almway Corporation. Additionel information: 1. The investment in equity securtes account includes an investment in common stock of another corporation of $30 , 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 $25 , 000 that the company has not used and is currently listed for sale 3. The cash occount includes $15 , 000 restricted in a fund to pay bonds payabie that mature in 2024 and $23 , 000 restricted in a three. month Treasury bili. 4. The notes payable account consists of the following a. a $30 , 000 note due in six months. b. a $50 , 000 note due in six years c. a $50 , 000 note due in five annual installments of $10 , 000 each, with the next instalment due February 15 , 2022 . 5. The $60 , 000 balance in accounts recelvable is net of an allowance for uncollectble accounts of $8.000 . 6. The common stock account represents 100,000 shares of no par value common stock Issued and outstanding. The corporation has 500,000 shares authorized Required: Prepare o classified balance sheet for the Almwoy Corporavon at December 31, 2021. (Amounts to be deducted should be Indicated by o minus sign.)
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