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The following information is available for Crane Inc. Accounts receivable $2,200 Cash $6,240 Accounts payable 3,800 Supplies 3,800 Interest payable 570 Unearned service revenue 910 Salaries and wages expense 5,200 Salaries and wages payable 720 Notes payable 33,000 Depreciation expense 750 Common stock 53,600 Equipment (net) 108,600 Inventory 2,910 Using the information above, prepare a balance sheet as of December 31, 2025. (Hint: Solve for the missing retained earnings amount after first determining total assets and total liabilities.) (List assets in order of liquidity.) Crane Inc. Balance Sheet Assets <> <>> 69 $ Liabilities and Stockholders' Equity 0 Save for Later $ <> LA $ $ 997 Attempts: 0 of 1 used Submit Answer

The following information is available for Crane Inc. Accounts receivable $2,200 Cash $6,240 Accounts payable 3,800 Supplies 3,800 Interest payable 570 Unearned service revenue 910 Salaries and wages expense 5,200 Salaries and wages payable 720 Notes payable 33,000 Depreciation expense 750 Common stock 53,600 Equipment (net) 108,600 Inventory 2,910 Using the information above, prepare a balance sheet as of December 31, 2025. (Hint: Solve for the missing retained earnings amount after first determining total assets and total liabilities.) (List assets in order of liquidity.) Crane Inc. Balance Sheet Assets <> <>> 69 $ Liabilities and Stockholders' Equity 0 Save for Later $ <> LA $ $ 997 Attempts: 0 of 1 used Submit Answer

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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The following information is available for Crane Inc. Accounts receivable $2,200 Cash $6,240 Accounts payable 3,800 Supplies 3,800 Interest payable 570 Unearned service revenue 910 Salaries and wages expense 5,200 Salaries and wages payable 720 Notes payable 33,000 Depreciation expense 750 Common stock 53,600 Equipment (net) 108,600 Inventory 2,910 Using the information above, prepare a balance sheet as of December 31, 2025. (Hint: Solve for the missing retained earnings amount after first determining total assets and total liabilities.) (List assets in order of liquidity.) Crane Inc. Balance Sheet Assets <> <>> 69 $ Liabilities and Stockholders' Equity 0 Save for Later $ <> LA $ $ 997 Attempts: 0 of 1 used Submit Answer
Transcribed Image Text:The following information is available for Crane Inc. Accounts receivable $2,200 Cash $6,240 Accounts payable 3,800 Supplies 3,800 Interest payable 570 Unearned service revenue 910 Salaries and wages expense 5,200 Salaries and wages payable 720 Notes payable 33,000 Depreciation expense 750 Common stock 53,600 Equipment (net) 108,600 Inventory 2,910 Using the information above, prepare a balance sheet as of December 31, 2025. (Hint: Solve for the missing retained earnings amount after first determining total assets and total liabilities.) (List assets in order of liquidity.) Crane Inc. Balance Sheet Assets <> <>> 69 $ Liabilities and Stockholders' Equity 0 Save for Later $ <> LA $ $ 997 Attempts: 0 of 1 used Submit Answer
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