3 Problems 0 Saved Help Save 8. Exit Submit Check my work 1 Problem 3-3 [Algo} Balance sheet preparation [LOB-2. 3-3] The following is a December 31, 2024, post-closing trial balance for Almway Corporation. 20 points Account Title Debits Credits Cash $ 5?.080 Investment in equity securities 122,080 Accounts receivable 66,000 g] Inventory 235.6% can\" Prepaid insurance {for the next 9 monthsi 5,000 Land 102.08% buildings 425.0% IE Accumulated depreciationbuildings 3 136,000 Equipment 116,080 References Accumulated depreciationequipment 551939 Patent (net) 16,080 Accounts payable 87,880 Notes payable 148,30! Interest payable 26,330 Bonds Payable 246.330 Common stock 318.330 Retained earnings nelson 35 Totals 5 1-115-\"3'3 1,116,000 Additional information: 1. The Investment in equity securities account Includes an investment In common stock at another corporation of $36000 which management intends to hold for at least three years. The balance ofthese investments is intended to be sold in the coming year. The land account includes land which cost $31000 that the companyI has not used and is currently listed for sale. . The cash account includes $21,000 restricted in a fund to pay bonds payable that mature In 202? and $29,000 restricted in a three-month Treasury bill. 4. The notes payable account consists of the foilowing: W!\" a. a $36,000 note due in six months. lo. a 556.000 note clue in six years. c. a 356.000 note due in ve annual installments of $11,200 each. with the next installment due February 15. 2025. 5. The $66,000 balance in accounts receivable Is net of an allowance for uncollectlble accounts 0118.000. 6. The common stock account represents 106,000 shares of no par value common stock issued and outstanding. The corporation has 500.000 shares authorized. Danllirnol- % Prev 1 of1 555 Next Fill out an entire balance sheet