the numbers i have are all incorrect except investment in equity being 99,000 ...

90.2K

Verified Solution

Question

Accounting

the numbers i have are all incorrect except investment in equity being 99,000 image
image
image
image
image
image
The following is a December 31,2024 , post-closing trial balance for Almway Corporation. Additional information: The following is a December 31, 2024, post-closing trial balance for Almway Corporation. Additional information: 1. The investment in equity securities account includes an investment in common stock of another corporation of $49,000 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 $44,000 that the company has not used and is currently listed for sale. 3. The cash account includes $34,000 restricted in a fund to pay bonds payable that mature in 2027 and $42,000 restricted in a three-month Treasury bill. 4. The notes payable account consists of the following: a. a $49,000 note due in six months. b. a $69,000 note due in six years. ALMWAY CORPORATION Balance Sheet At December 31, 2024 Assets Current assets: Property, plant, and equipment: \begin{tabular}{|l|l|l|} \hline & \\ \hliney & \\ \hline \end{tabular} Investments: \begin{tabular}{|l|l|l|} \hline & & \\ \hline & & \\ \hline Total investments & & \\ \hline Property, plant, and equipment: & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Net property, plant, and equipment & & \\ \hline Intangible assets: & & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Liabilities and Shareholders' Equity Current liabilities

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students