The adjusted trial balance for Crane Company is shown below. CRANE COMPANY Trial Balance August 31, 2020
Question:
The adjusted trial balance for Crane Company is shown below. CRANE COMPANY Trial Balance August 31, 2020 Before Adjustment After Adjustment Dr. Cr. Dr. Cr. Cash $10,500 $10,500 Accounts Receivable 8,500 9,500 Supplies 2,400 600 Prepaid Insurance 3,700 2,500 Equipment 12,800 12,800 Accumulated Depreciation-Equipment $ 3,700 $ 4,600 Accounts Payable 5,700 5,700 Salaries and Wages Payable 0 1,300 Unearned Rent Revenue 1,300 600 Owner’s Capital 14,000 14,000 Service Revenue 34,000 35,000 Rent Revenue 10,900 11,600 Salaries and Wages Expense 16,800 18,100 Supplies Expense 0 1,800 Rent Expense 14,900 14,900 Insurance Expense 0 1,200 Depreciation Expense 0 900 $69,600 $69,600 $72,800 $72,800 Prepare the owner’s equity statement for the year. CRANE COMPANY Owner’s Equity Statement $ : $ SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the balance sheet at August 31. (List Assets in order of liquidity.) CRANE COMPANY Balance Sheet Assets $ $ : $ Liabilities and Owner’s Equity $ $
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Accounting Principles Part 3
ISBN: 978-1118306802
6th Canadian edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow