P03-03 Almway Corporation - Excel template

P03-03 Almway Corporation

 

                                                    ALMWAY CORPORATION
                                                      Post-Closing Trial Balance
                                                          December 31, 2011

Account Title			Debits	Credits
Cash			45,000
Investments			110,000
Accounts receivable			60,000
Inventories			200,000
Prepaid insurance			9,000
Land			90,000
Buildings			420,000
Accumulated depreciation - buildings				100,000
Equipment			110,000
Accumulated depreciation - equipment				60,000
Patents (net of amortization)			10,000
Accounts payable				75,000
Notes payable				130,000
Interest payable				20,000
Bonds payable				240,000
Common stock				300,000
Retained earnings				129,000
Totals			1,054,000	1,054,000

 

Additional Information:

Common stock investment			$       30,000
Intention to hold (years)			3
Land cost			$       25,000
Cash set aside to pay bonds payable			$       15,000
Cash set aside in 3-month treasury bill			$       23,000
Note due in six months			$       30,000
Note due in six years			$       50,000
Note due in five annual installments			$       50,000
Installments amounts beginning 2/15/2012			$       10,000
Accounts Receivable balance			$       60,000
Allowance for uncollectible accounts			$         8,000
Shares of common stock			100,000
Shares of common stock authorized			500,000

Please see the attachment for solution.


File name: P03-03 Almway Corporation.xls  File type: doc PRICE: $8