The following is a December 31, 2013, post-closing trial balance for Almway Corporation. ...

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Accounting

The following is a December 31, 2013, post-closing trial balance for Almway Corporation.

Account Title Debits Credits
Cash 63,000
Investments 128,000
Accounts receivable 69,000
Inventories 209,000
Prepaid insurance 7,000
Land 108,000
Buildings 429,000
Accumulated depreciationbuildings 109,000
Equipment 119,000
Accumulated depreciationequipment 69,000
Patents (net of amortization) 19,000
Accounts payable 94,000
Notes payable 157,000
Interest payable 29,000
Bonds payable 249,000
Common stock 327,000
Retained earnings 117,000
Totals 1,097,000 1,097,000

Additional information:

1.

The investment account includes an investment in common stock of another corporation of $39,000 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 $34,000 that the company has not used and is currently listed for sale.

3.

The cash account includes $24,000 set aside in a fund to pay bonds payable that mature in 2016 and $32,000 set aside in a three-month Treasury bill.

4. The notes payable account consists of the following:

a. a $39,000 note due in six months.
b. a $39,000 note due in six years.
c.

a $59,000 note due in 5 annual installments of $11,800 each, with the next installment due February 15, 2014.

5. The $69,000 balance in accounts receivable is net of an allowance for uncollectible accounts of $5,000.
6.

The common stock account represents 109,000 shares of no par value common stock issued and outstanding. The corporation has 300,000 shares authorized.

Required:

Prepare a classified balance sheet for the Almway Corporation at December 31, 2013.

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