The following is a December 31, 2021, post-closing trial balance for Almway Corporation.

TOTAL ASSETS $1,043,000

TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $1,043,000

Explanation:

Preparation of a balance sheet for the Almway Corporation at December 31, 2021.

ALMWAY corporation

Balance sheet at December 31,2018

ASSETS

Current Assets

Cash and cash equivalent$47,000

($79,000-$32,000)

Short term investment $97,000

($144,000-$47,000)

Account receivable net of allowances$77,000

Inventories$217,000

Prepaid insurance$5,000

TOTAL CURRENT ASSETS $443,000

INVESTMENT

Marketable securities$47,000

Land held for sale$42,000

Restricted cash$32,000

TOTAL INVESTMENT $121,000

Plant property and equipment

Land $82,000

($124,000-$42,000)

Building$437,000

Accumulated deperation Building($117,000)

Equipment$127,000

Accumulated deperation Equipment ($77,000)

NET PLANT PROPERTY AND EQUIPMENT $452,000

INTANGIBLE ASSETS

Patents ( net of amortization) $27,000

TOTAL ASSETS $1,043,000

LIABILITIES AND STOCKHOLDERS EQUITY

Current liabilities

Account payable$109,000

Interest payable$37,000

Note payable due in 6 months $47,000

Current maturity of long term debt notes payable$13,400

TOTAL CURRENT LIABILITY $206,400

LONG TERM LIABILITIES

Notes payable $120,600

($181,000-$47,000-$13,400)

Bond payable$257,000

TOTAL LONGTERM LIABILITIES $377,600

SHAREHOLDER EQUITY

Authorised 500,000 shares

Issued and outstanding shares$351,000

Retained earnings$108,000

Total shareholders equity $459,000

TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $1,043,000

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