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What am I doing wrong? help pls! The following is a December 31, 2021, post-closing trial balance for Almway Corporation. Account Title Cash Investment in

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The following is a December 31, 2021, post-closing trial balance for Almway Corporation. Account Title Cash Investment in equity securities Accounts receivable Inventory Prepaid insurance (for the next 9 months) Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Patent (net) Accounts payable Notes payable Interest payable Bonds Payable Common stock Retained earnings Totals Debits Credits $ 61, eee 126, eee 68,000 288,000 6,000 106,000 428,eee $ 108,000 118, eee 68,000 18,eee 91,000 154,000 28,888 248,000 324,000 118,000 $1,139,000 $1,139,000 Additional Information: 1. The investment in equity securities account includes an investment in common stock of another corporation of $38,000 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 $33,000 that the company has not used and is currently listed for sale. 3. The cash account includes $23,000 restricted in a fund to pay bonds payable that mature in 2024 and $31000 restricted in a three- month Treasury bill 4. The notes payable account consists of the following: Additional information: 1. The investment in equity securities account includes an investment in common stock of another corporation of $38,000 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 $33,000 that the company has not used and is currently listed for sale. 3. The cash account includes $23,000 restricted in a fund to pay bonds payable that mature in 2024 and $31,000 restricted in a three- month Treasury bill. 4. The notes payable account consists of the following: a. a $38,000 note due in six months, b. a $58,000 note due in six years. c. a $58,000 note due in five annual installments of $11,600 each, with the next installment due February 15, 2022. 5. The $68,000 balance in accounts receivable is net of an allowance for uncollectible accounts of $5,000 6. The common stock account represents 108,000 shares of no par value common stock issued and outstanding. The corporation has 400,000 shares authorized Required: Prepare a classified balance sheet for the Amway Corporation at December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) Answer is not complete. ALMWAY CORPORATION Balance Sheet At December 31, 2021 Assets $ Current assets: Cash and cash equivalents Inventory Accounts receivable Allowance for uncollectible accounts Net accounts receivable 38,000 208,000 >> 68,000 (5,000) 63,000 88,000 6,000 403,000 Investment in equity securities Prepaid insurance Total current assets Investments: Long-term investments % 38,000 >> 33,000 23,000 > Land held for sale Restricted cash Total investments Property, plant, and equipment: Land 94,000 73.000 Total current assets 403,000 Investments: Long-term investments 38,000 33,000 23,000 94,000 Land held for sale Restricted cash Total investments Property, plant, and equipment: Land Equipment Buildings 73,000 118,000 428,000 619,000 108,000 68,000 x x Less: Accumulated depreciation - buildings Less: Accumulated depreciation - equipment Net property, plant, and equipment Intangible assets: Patent (net) 795,000 18,000 Total assets $ 1,310,000 Liabilities and Shareholders' Equity $ Current liabilities: Accounts payable Interest payable 91,000 28,000

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