Question

Hello,

Can you please review the following question below? I am not sure what is missing on the Balance Sheet. Thank you

The following is a December 31, 2021, post-closing trial balance for Almway Corporation Account Title Debits Credits Cash 71,000 136,000 73,000 213,000 6,000 116,000 433,000 $ 123,000 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 113,000 73,000 23,000 101,000 169,000 33,000 253,000 339,000 113,000 Common stock Retained earnings Totals $1,194,000 $1,194,000

Answer 1

& 43,000 & 93,000 $ 73,000 $ 213,000 ALMWAY CORPORATION Balance sheet At December 31, 2021 Assets Current assets: Cash and cash equivalents Short term investments Accounts receivable, net of allowan Inventories Prepaid insurance Total current assets Investments: Marketable secusities $ 43,000 Land held for sale $ 38,000 Bond sinking fund $ 20,000 Total Investments Property, plant and equipment: Land $ 78,000 Buildings $ 433,000 $ 123,000 $ 6,000 $ 428,000 $ 109,000 Equipment $ 370,000 ou Accumulated depruation buildings $ 113,000 Lei Accumulated depreciation - equipment $ 721 Net property, plant and equipment Intangible assets: Patents Total assets $ 23,000 $ 1,000,000

liabilities: Liabilities and shareholders Equity Current Alounts payable $ 101,000 Interest payable & 33,000 Current maturities of long-term debt $ 12,600 Notes payable $ 431000 Total current mabilities $ 189,600 Long term liabilities: Notes payable & 113,400 Bonds payable $ 253,000 Total long-term liabilities & 366, 400 Share ho collers' equity Common stock $ 339,000 Retained earnings & 113,000 Total shareholders' equity $ 452,000 Total wabilities and shareholders equity $ 1,000,000

Calculation : Short-term investments = = Calculation en vertrete 4 13 ore $ 156,000 - $43,000 $ 93,000 Land $38,000 = = & 11.6,000 - $ 78,000