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tangare [24]
3 years ago
13

The following information is available for Crane Company

Business
1 answer:
nataly862011 [7]3 years ago
7 0

Answer and Explanation:

The preparation of the balance sheet is as follows:

Assets

Accounts receivable $3,300

Cash $6,310

Supplies $3,880

Equipment (net) $109,800

Inventory $2,940

Total assets $126,230

Liabilities and stockholder equity  

Accounts payable $4,100

Interest payable $580

Unearned service revenue $820

Salaries and wages payable $850

Notes payable $31,500  

Common stock $50,400

Retained earnings (balancing figure) $37,980

Total Liabilities and stockholder equity $126,230

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