Maurice Tutor

(5)

$15/per page/Negotiable

About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 1 Day Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 18 Aug 2017 My Price 11.00

Almway Corporation

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

  Account Title Debits Credits
  Cash   51,000        
  Investments   116,000        
  Accounts receivable   63,000        
  Inventories   203,000        
  Prepaid insurance   9,000        
  Land   96,000        
  Buildings   423,000        
  Accumulated depreciationAc€??buildings         103,000  
  Equipment   113,000        
  Accumulated depreciationAc€??equipment         63,000  
  Patents (net of amortization)   13,000        
  Accounts payable         81,000  
  Notes payable         139,000  
  Interest payable         23,000  
  Bonds payable         243,000  
  Common stock         309,000  
  Retained earnings         126,000  
             
     Totals   1,087,000     1,087,000  
             
 


Additional information:

1.

The investment account includes an investment in common stock of another corporation of $33,000 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 $28,000 that the company has not used and is currently listed for sale.
3.

The cash account includes $18,000 set aside in a fund to pay bonds payable that mature in 2016 and $26,000 set aside in a three-month Treasury bill.
4. The notes payable account consists of the following:
  a. a $33,000 note due in six months.
  b. a $53,000 note due in six years.
  c.

a $53,000 note due in 5 annual installments of $10,600 each, with the next installment due February 15, 2014.
5. The $63,000 balance in accounts receivable is net of an allowance for uncollectible accounts of $7,000.
6.

The common stock account represents 103,000 shares of no par value common stock issued and outstanding. The corporation has 500,000 shares authorized.
Required:

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

Answers

Maurice Tutor
(5)
Status NEW Posted 18 Aug 2017 04:08 PM My Price 11.00

Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------and----------- ac-----------qui-----------sit-----------ion----------- of----------- my----------- po-----------ste-----------d s-----------olu-----------tio-----------n.P-----------lea-----------se -----------pin-----------g m-----------e o-----------n c-----------hat----------- I -----------am -----------onl-----------ine----------- or----------- in-----------box----------- me----------- a -----------mes-----------sag-----------e I----------- wi-----------ll

Not Rated(0)
Relevent Questions