Crane Grove Hardware has the following balances in the company ledgers for the year ending December...
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Crane Grove Hardware has the following balances in the company ledgers for the year ending December 31: Mortgage Payable Prepaid Insurance Short-term investments Common Shares Cash Advertising Accounts Receivable Sales revenue Accounts Payable Buildings (Net) Cost of Goods Sold Note Payable (due in 9 months) Retained Earnings (Beg Bal-Jan 1) $84,700 Interest Expense $3,900 Land $3,900 Office salaries $10,000 Sales Salaries $29,900 Supplies expense $45,200 Insurance expense $16,200 Depreciation expense $604,300 Income tax expense $13,500 Dividend Payments $95,500 Interest Income $295,800 $5,400 $41,900 Inventory $9,400 $23,700 $69,600 $96,800 $24,000 $12,400 $17,000 $5,000 $5,900 $15,700 $21,300 udig Using the above information, prepare the Statement of Income. CRANE GROVE HARDWARE STATEMENT OF INCOME For the Year Ended December 31 Crane Grove Hardware has the following balances in the company ledgers for the year ending December 31: Mortgage Payable Prepaid Insurance Short-term investments Common Shares Cash Advertising Accounts Receivable Sales revenue Accounts Payable Buildings (Net) Cost of Goods Sold Note Payable (due in 9 months) Retained Earnings (Beg Bal-Jan 1) $84,700 Interest Expense $3,900 Land $3,900 Office salaries $10,000 Sales Salaries $29,900 Supplies expense $45,200 Insurance expense $16,200 Depreciation expense $604,300 Income tax expense $13,500 Dividend Payments $95,500 Interest Income $295,800 $5,400 $41,900 Inventory $9,400 $23,700 $69,600 $96,800 $24,000 $12,400 $17,000 $5,000 $5,900 $15,700 $21,300 udig Using the above information, prepare the Statement of Income. CRANE GROVE HARDWARE STATEMENT OF INCOME For the Year Ended December 31
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Related Book For
Accounting
ISBN: 978-0324401844
22nd Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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