Question: The adjusted trial balance for Cranes Animations is presented below. Credit CRANE COMPANY Adjusted Trial Balance December 31, 2021 Debit Cash $4,000 Accounts receivable 4,400

 The adjusted trial balance for Cranes Animations is presented below. Credit
CRANE COMPANY Adjusted Trial Balance December 31, 2021 Debit Cash $4,000 Accounts
receivable 4,400 Prepaid expenses 2.400 Equipment 49.000 Accumulated depreciation-equipment Accounts payable Unearned

The adjusted trial balance for Cranes Animations is presented below. Credit CRANE COMPANY Adjusted Trial Balance December 31, 2021 Debit Cash $4,000 Accounts receivable 4,400 Prepaid expenses 2.400 Equipment 49.000 Accumulated depreciation-equipment Accounts payable Unearned revenue M. Crane, capital M. Crane, drawings 17.000 Service revenue Rent expense 9.900 Salaries expense 25,000 Supplies expense 2.200 Depreciation expense 6,125 $120,025 $18,375 5.700 9.700 22,050 64,200 $120,025 Prepare an income statement for the year. Mr.Crane invested $5,100 cash in the business during the year. (Enter negative amounts using either a negative sign preceding the number cs -15 or parentheseses (451) CRANE COMPANY Income Statement Prepare a statement of owner's equity for the year. Mr.Crane invested $5,100 cash in the business during the year. (List items that increase owner's equity first.) CRANE COMPANY Statement of Owner's Equity

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!