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The following is a December 31, 2013, post-closing trial balance for Almway Corporation.
The investment account includes an investment in common stock of another corporation of $31,000 which management intends to hold for at least three years. The balance of these investments is intended to be sold in the coming year.
The land account includes land which cost $26,000 that the company has not used and is currently listed for sale.
The cash account includes $16,000 set aside in a fund to pay bonds payable that mature in 2016 and $24,000 set aside in a three-month Treasury bill.
a $51,000 note due in 5 annual installments of $10,200 each, with the next installment due February 15, 2014.
The common stock account represents 101,000 shares of no par value common stock issued and outstanding. The corporation has 400,000 shares authorized.
Prepare a classified balance sheet for the Almway Corporation at December 31, 2013.
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