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CRANE COMPANY Owner's Equity Statement

CRANE COMPANY Owner's Equity Statement

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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Question 14 of 20 View Policies < > Save for Later Current Attempt in Progress The adjusted trial balance of Crane Company at December 31, 2022, includes the following accounts: Owner's Capital $17,600. Owner's Drawings $7,500, Service Revenue $37,100, Salaries and Wages Expense $16,200, Insurance Expense $2,900, Rent Expense $3,200, Supplies Expense $1,400, and Depreciation Expense $2,000. The balance in Owner's Capital is the balance as of January 1. Prepare an owner's equity statement for the year assuming net income is $11,400 for the year. (List items that increase owner's equity first.) CRANE COMPANY Owner's Equity Statement eTextbook and Media E !!! Attempts: 0 of 2 used *** Submit Answer
Transcribed Image Text:Question 14 of 20 View Policies < > Save for Later Current Attempt in Progress The adjusted trial balance of Crane Company at December 31, 2022, includes the following accounts: Owner's Capital $17,600. Owner's Drawings $7,500, Service Revenue $37,100, Salaries and Wages Expense $16,200, Insurance Expense $2,900, Rent Expense $3,200, Supplies Expense $1,400, and Depreciation Expense $2,000. The balance in Owner's Capital is the balance as of January 1. Prepare an owner's equity statement for the year assuming net income is $11,400 for the year. (List items that increase owner's equity first.) CRANE COMPANY Owner's Equity Statement eTextbook and Media E !!! Attempts: 0 of 2 used *** Submit Answer
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