THE ANSWER IS NOT COMPLETE I DONT KNOW WHY (I DARE TO KNOW THE REASON ;)
Problem 3-3 Balance sheet preparation [LO3-2, 3-3]
The following is a December 31, 2018, post-closing trial balance
for Almway Corporation.
Account Title | Debits | Credits | ||||
Cash | $ | 45,000 | ||||
Investments | 110,000 | |||||
Accounts receivable | 60,000 | |||||
Inventories | 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 | |||||
Patents (net of amortization) | 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:
Required:
Prepare a classified balance sheet for the Almway Corporation at
December 31, 2018. (Amounts to be deducted should be
indicated by a minus sign.)
Please enter this and see is the answer shows complete | |||||
Instead of restricted cash | |||||
Bond Sinking Fund | 15000 | ||||
And after the Completion of Balance sheet which you made. | |||||
Enter two points i.e after Total Liabilities & stockholder equity | |||||
Accounts Receivable, net of allowance for uncollectible /doubtful accounts of $8000= $60000 | |||||
Common stock with no par value 500000 authorized shares, 100000 shares issued and outstanding | |||||
I think these two were missing so answer showing incorrect |
THE ANSWER IS NOT COMPLETE I DONT KNOW WHY (I DARE TO KNOW THE REASON ;) Problem 3-3 Balance sheet preparation [LO3-2, 3...
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...
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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 $ 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...
Exercise 3-5 (Algo) Balance sheet preparation (LO3-2, 3-3) The following are the ending balances of accounts at December 31, 2021, for the Valley Pump Corporation Credits Debits $ 31,000 68,000 93,000 $ 16,000 56,000 132.000 330.000 106,000 87.000 Account Title Cash Accounts receivable Inventory Interest payable Investment in equity securities Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation equipment Copyright (net) Prepaid expenses (next 12 months) Accounts payable Deferred revenue (next 12 months) Notes payable Allowance for uncollectible accounts Common stock...
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...