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1 The following is a December 31, 2021, post-closing trial balance for Almway Corporation 8.3 points eBook Print References 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 $ 71,000 136,000 73,000 213,000 6,000 116,000 433, 000 $ 113,000 123,000 73,000 23,000 101,000 169,000 33,000 253,000 339,000 113,000 $1,194,000 $1,194,000 14. Additional information: Help Save & Che HULL JAVU U Additional Information: 1. The investment in equity securities account includes an investment in common stock of another corporation of $43,000 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 $38,000 that the company has not used and is currently listed for sale. 3. The cash account includes $28,000 restricted in a fund to pay bonds payable that mature in 2024 and $36,000 restricted in a three-month Treasury bill. 4. The notes payable account consists of the following: a. a $43,000 note due in six months. b. a $63,000 note due in six years. c. a $63,000 note due in five annual installments of $12,600 each with the next installment due February 15, 2022. 5. The $73,000 balance in accounts receivable is net of an allowance for uncollectible accounts of $7,000. 6. The common stock account represents 113,000 shares of no par value common stock issued and outstanding. The corporation has 500,000 shares authorized ences Required: Prepare a classified balance sheet for the Almway Corporation at December 31, 2021. (Amounts to be deducted should be indicates by a minus sign.) ALMWAY CORPORATION ALMWAY CORPORATION Balance Sheet At December 31, 2021 Assets $ Current assets: Cash and cash equivalents Short-term investments Accounts receivable 43,000 93,000 0 Net accounts receivable Inventory Prepaid insurance 213,000 6,000 355,000 Total current assets Investments + Total investments 0 Prev 1 of 3 !!! Next > Property, plant, and equipment: 0 0 Net property, plant, and equipment Intangible assets: Total assets $ 355,000 Liabilities and Shareholders' Equity Current liabilities: + 0 Total current liabilities Long-term liabilities: Prev 1 of 3 Next 0 Total current liabilities Long-term liabilities: sok int Total long-term liabilities Total liabilities Shareholders' equity: 0 ences Total shareholders' equity Total liabilities and shareholders' equity 0 $ 0

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