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Crane Corporation Comparative Balance Sheets December 31 2025 2024

Crane Corporation Comparative Balance Sheets December 31 2025 2024

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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Crane Corporation's comparative balance sheets are presented below. Crane Corporation Comparative Balance Sheets December 31 2025 2024 Cash $16,950 $11,500 Accounts receivable 21,100 24,700 Land 20,500 26,000 Buildings 77,000 77,000 Accumulated depreciation-buildings (15,900) (10,900) Total $119,650 $128,300 Accounts payable $12,550 $31,000 Common stock 68,500 63,000 Retained earnings 38,600 34,300 Total $119,650 $128,300 Additional information: 1. Net income was $23,400. Dividends declared and paid were $19,100. 2. No noncash investing and financing activities occurred during 2025. 3. The land was sold for cash of $4,900.
Transcribed Image Text:Crane Corporation's comparative balance sheets are presented below. Crane Corporation Comparative Balance Sheets December 31 2025 2024 Cash $16,950 $11,500 Accounts receivable 21,100 24,700 Land 20,500 26,000 Buildings 77,000 77,000 Accumulated depreciation-buildings (15,900) (10,900) Total $119,650 $128,300 Accounts payable $12,550 $31,000 Common stock 68,500 63,000 Retained earnings 38,600 34,300 Total $119,650 $128,300 Additional information: 1. Net income was $23,400. Dividends declared and paid were $19,100. 2. No noncash investing and financing activities occurred during 2025. 3. The land was sold for cash of $4,900.
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