Answer:
Almway
corporation Balance sheet at December 31,2018 |
||
Amount | Amount | |
Assets | ||
Current Assets | ||
Cash and cash equivalent($79000-$32000) | $47000 | |
Short term investment ($144000-$47000) | $97000 | |
Account receivable net of allowances | $77000 | |
Inventories | $217000 | |
Prepaid insurance | $5000 | |
Total current assets | $443000 | |
Investment | ||
Marketable securities | $47000 | |
Land held for sale | $42000 | |
Restricted cash | $32000 | |
Total investment | $121000 | |
Plant property and equipment | ||
Land ($124000-$42000) | $82000 | |
Building | $437000 | |
Accumulated deperation ( Building) | ($117000) | |
Equipment | $127000 | |
Accumulated deperation ( Equipment ) | ($77000) | |
Net Plant property and equipment | $452000 | |
Intangible Assets | ||
Patents ( net of amortization) | $27000 | |
Total Assets | $1043000 | |
Liabilities and stock holder equity | ||
Current liabilities | ||
Account payable | $109000 | |
Interest payable | $37000 | |
Note payable (due in 6 months) | $47000 | |
Current maturity of long term debt(notes payable) | $13400 | |
Total current liability | $206400 | |
Long term liabilities | ||
Notes payable ($181000-$47000-$13400) | $120600 | |
Bond payable | $257000 | |
Total long term liabilities | $377600 | |
Shareholders equity | ||
Authorised 500000 shares | ||
Issued and outstanding shares | $351000 | |
Retained earnings | $108000 | |
Total shareholders equity | $459000 | |
Total liabilities and shareholders equity | $1043000 |
The following is a December 31, 2021, post-closing trial balance for Almway Corporation. Account Title Debits...
please complete The following is a December 31, 2021, post-closing trial balance for Almway Corporation. Account Title Debits Credits Cash $ 79,000 Investment in equity securities 144,000 Accounts receivable 77,000 Inventory 217,000 Prepaid insurance (for the next 9 months) 5,000 Land 124,000 Buildings 437,000 Accumulated depreciation-buildings $ 117,000 Equipment 127,000 Accumulated depreciation-equipment 77,000 Patent (net) 27,000 Accounts payable 109,000 Notes payable 181,000 Interest payable 37,000 Bonds Payable 257,000 Common stock 351,000 Retained earnings 108,000 Totals $1,237,000 $1,237,000 Additional Information: 1....
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 $ 47,000 112,000 61,000 201,000 8,000 92,000 421,000 $ 101,000 111,000 61,000 11,000 77,000 133,000 21,000 241,000 303,000 127.000 $1,064,000 $1,064,000 Additional information: 1. The...
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 $ 55,000 120,000 65,000 205,000 7,000 100,000 425,000 $ 105,000 115,000 65,000 15,000 85,000 145,000 25,000 245,000 315,000 122,000 $1,107,000 $1,107,000 Additional information: 1. The investment...
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 Conmon stock Retained earnings Totals Debits Credits $ 65,000 130,000 70,000 210,000 8,000 110,000 430,000 $ 119,000 120,000 70,000 20,000 95,000 160,000 30,000 250,000 330,000 118,000 51,163,000 $1,163,000 Additional information: 1 the...
Check my work The following is a December 31, 2021, post-closing trial balance for Almway Corporation. Credits $ points Debits 59,000 124,000 67,000 207,000 6,000 104,000 427,000 eBook $ 107,000 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 117,000 67,000 17,000 Print 89,000 151,000 27,000 247,000 321,000 119,000 $1,128,000...
The following is a December 31, 2021. post closing trial balance for Almway Corporation Account title 16 Investment in equity Securities Accounts receivable Inventory Prepaid insurance (for the next 9 months) Land Building Accumulated depreciation-buildings | Equipment Accumulated depreciation-equipment Patent (net) Accounts payable Notas payable Interest payable Bands Payable Common stock Retained earing Totals Debits Credits $ 45, 118,30 60,000 200.000 9,000 90.000 420.000 $ 100,aee 110,000 6a, aee 10,098 99.000 138, gee 2, 248, 508, 129,aee $1,654,000 $1,054, 5...
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 $ 85,000 150,000 80,000 220,000 8,000 130,000 440,000 $ 120,000 130,000 80,000 30,000 115,000 190,000 40,000 260,000 360,000 108,000 $1,273,000 $1,273,000 Additional information: 1. The investment...
Debits Fauipment Patent (net) The following is a December 31, 2021, post-closing trial balance for Almway Corporation. Account Title Credits Cash $ 75,000 Investment in equity securities 140,000 Accounts receivable 75,000 Inventory 215,000 Prepaid insurance (for the next 9 months) 7,000 Land 120,000 Buildings 435,000 $ 115,000 125,000 Accumulated depreciation equipment 75,000 25, eee Accounts payable Notes payable Interest payable Bonds Payable Common stock Retained earnings Totals 105,eee 175, eee 35,000 255,000 345,000 112,000 $1,217,000 $1,217,000 Additional information: 1. The...
The following is a December 31, 2021, post-closing trial balance for Almway Corporation. Account Title Debits Credits Cash $ 45,000 Investment in equity securities 110,000 Accounts receivable 60,000 Inventory 200,000 Prepaid insurance (for the next 9 months) 9,000 Land 90,000 Buildings 420,000 Accumulated depreciation—buildings $ 100,000 Equipment 110,000 Accumulated depreciation—equipment 60,000 Patent (net) 10,000 Accounts payable 75,000 Notes payable 130,000 Interest payable 20,000 Bonds Payable 240,000 Common stock 300,000 Retained earnings 129,000 Totals $ 1,054,000 $ 1,054,000 Additional information: The...
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 $ 67,000 132,000 71,800 211,000 9,000 112,000 431,000 $ 111,080 121,000 71,090 21,080 97,000 163,080 31,898 251,000 333,080 118,000 $1,175,000 $1,175,000 Additional information: 1. The...