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The balance sheet data of Crane Company at the end of 2020 and 2019 are shown below. Cash' Accounts receivable (net) Inventory Prepaid expenses Equipment Accumulated depreciation-equipment Land Accounts payable 2020 $29,800 54,500 65,500 14,900 89,200 (17,840) 70,300 $306,360 $65,000 15.100 2019 $35,300 45,100 45,400 24,900 4 75,200 (8,100 ) 40,000 $257,800 $52,100 17.900

The balance sheet data of Crane Company at the end of 2020 and 2019 are shown below. Cash' Accounts receivable (net) Inventory Prepaid expenses Equipment Accumulated depreciation-equipment Land Accounts payable 2020 $29,800 54,500 65,500 14,900 89,200 (17,840) 70,300 $306,360 $65,000 15.100 2019 $35,300 45,100 45,400 24,900 4 75,200 (8,100 ) 40,000 $257,800 $52,100 17.900

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The balance sheet data of Crane Company at the end of 2020 and 2019 are shown below. Cash' Accounts receivable (net) Inventory Prepaid expenses Equipment Accumulated depreciation-equipment Land Accounts payable Accrued expenses 2020 $29,800 54,500 65,500 14,900 89,200 (17,840 ) 70,300 $306,360 $65,000 15,100 2019 $35,300 45,100 45,400. 24,900 4 75,200 (8,100 ) 40,000 $257,800 $52,100 17,900
Transcribed Image Text:The balance sheet data of Crane Company at the end of 2020 and 2019 are shown below. Cash' Accounts receivable (net) Inventory Prepaid expenses Equipment Accumulated depreciation-equipment Land Accounts payable Accrued expenses 2020 $29,800 54,500 65,500 14,900 89,200 (17,840 ) 70,300 $306,360 $65,000 15,100 2019 $35,300 45,100 45,400. 24,900 4 75,200 (8,100 ) 40,000 $257,800 $52,100 17,900
Accounts payable Accrued expenses Notes payable-bank, long-term Bonds payable Common stock, $10 par Retained earnings $65,000 15,100 (a) (b) -0- used 29,900 used 188,400 7,960 (a) Net Cash provided by operating activities. $306,360 Net Cash provided by operating activities. $ Net Cash (c) Net Cash Land was acquired for $30,300 in exchange for common stock, par $30,300, during the year; all equipment purchased was for cash. Equipment costing $12.900 was sold for $2,900; book value of the equipment was $6,100. Cash dividends of $9,900 were declared and paid during the year. Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a-sign eg.-12.000 or in parenthesis eg (12,000)) by investing activities. $ $52,100 by financing activities, $ 17,900 $ 23,300 Land was acquired for $30,300 in exchange for common stock, par $30,300, during the year, all equipment purchased was for cash Equipment costing $12,900 was sold for $2,900; book value of the equipment was $6.100. Cash dividends of $9.900 were declared and paid during the year. Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a-sign eg.-12,000 or in parenthesis eg. (12.0001) -0- 158,100 6,400 $257,800 4 4
Transcribed Image Text:Accounts payable Accrued expenses Notes payable-bank, long-term Bonds payable Common stock, $10 par Retained earnings $65,000 15,100 (a) (b) -0- used 29,900 used 188,400 7,960 (a) Net Cash provided by operating activities. $306,360 Net Cash provided by operating activities. $ Net Cash (c) Net Cash Land was acquired for $30,300 in exchange for common stock, par $30,300, during the year; all equipment purchased was for cash. Equipment costing $12.900 was sold for $2,900; book value of the equipment was $6,100. Cash dividends of $9,900 were declared and paid during the year. Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a-sign eg.-12.000 or in parenthesis eg (12,000)) by investing activities. $ $52,100 by financing activities, $ 17,900 $ 23,300 Land was acquired for $30,300 in exchange for common stock, par $30,300, during the year, all equipment purchased was for cash Equipment costing $12,900 was sold for $2,900; book value of the equipment was $6.100. Cash dividends of $9.900 were declared and paid during the year. Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a-sign eg.-12,000 or in parenthesis eg. (12.0001) -0- 158,100 6,400 $257,800 4 4
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