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FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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These items are taken from the financial statements of Crane Company for 2022. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages expense Accumulated depreciation-equipment $35,660 2,140 64,500 15,180 13,950 7,360 21,000 12,000 3,100 5,600 1,800 71,800 7,860 1,660 3,100 13,660 2,700 40,380 21,450
Transcribed Image Text:These items are taken from the financial statements of Crane Company for 2022. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages expense Accumulated depreciation-equipment $35,660 2,140 64,500 15,180 13,950 7,360 21,000 12,000 3,100 5,600 1,800 71,800 7,860 1,660 3,100 13,660 2,700 40,380 21,450
Prepare a retained earnings statement for the year ended December 31, 2022. (List items that increase retained earnings first.) CRANE COMPANY Retained Earnings Statement V: $
Transcribed Image Text:Prepare a retained earnings statement for the year ended December 31, 2022. (List items that increase retained earnings first.) CRANE COMPANY Retained Earnings Statement V: $
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