P3-3.docx - P 3–3 The following is a December 31, 2013,...

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P 3–3The following is a December 31, 2013, post-closing trial balance for AlmwayCorporation.Additional Information:1.The investment account includes an investment in common stock of anothercorporation of $30,000 which management intends to hold for at least threeyears. The balance of these investments is intended to be sold in the comingyear.2.The land account includes land which cost $25,000 that the company has notused and is currently listed for sale.3.The cash account includes $15,000 set aside in a fund to pay bonds payablethat mature in 2016 and $23,000 set aside in a three-month Treasury bill.4.The notes payable account consists of the following:1.
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Term
Fall
Professor
Q. Shu
Tags
investment account

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