These items are taken from the financial statements of Crane Company at December 31, 2022.Buildings$133,308Accounts receivable15,876Prepaid insurance4,032Cash14,918Equipment103,824Land77,112Insurance expense983Depreciation expense6,678Interest expense3,276Common stock75,600Retained earnings (January 1, 2022)50,400Accumulated depreciation-buildings57,456Accounts payable11,970Notes payable117,936Accumulated depreciation-equipment23,587Interest payable4,536Service revenue18,522 Prepare a classified balance sheet. Assume that $17,136 of the note payable will be paid in 2023. (List Current Assets in order ofliquidity and Property, Plant and Equipment in order of Land, Buildings and Equipment.)CRANE COMPANYBalance SheetDecember 31, 2022AssetsCurrent AssetsCash2$Accounts ReceivablePrepaid InsuranceTotal Current AssetsTotal Property, Plant and EquipmentLandBuildings$133308Less V:Accumulated Depreciation-Buildings57456Equipment103824Less V:Accumulated Depreciation-Equipment23587Total AssetsCustomize and control Google ChromeLiabilities and Stockholders' EquityCurrent LiabilitiesAccounts Payable$Interest PayableNotes PayableTotal Current LiabilitiesTotal Liabilities> >

Name: These items are taken from the financial statements of Crane Company
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Description: These items are taken from the financial statements of Crane Company at December 31, 2022.Buildings$133,308Accounts receivable15,876Prepaid insurance4,032Cash14,918Equipment103,824Land77,112Insurance expense983Depreciation expense6,678Interest expen

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These items are taken from the financial statements of Crane Company at December 31, 2022. Buildings $133,308 Accounts receivable 15,876 Prepaid insurance 4,032 Cash 14,918 Equipment 103,824 Land 77,112 Insurance expense 983 Depreciation expense 6,678 Interest expense 3,276 Common stock 75,600 Retained earnings (January 1, 2022) 50,400 Accumulated depreciation-buildings 57,456 Accounts payable 11,970 Notes payable 117,936 Accumulated depreciation-equipment 23,587 Interest payable 4,536 Service revenue 18,522

These items are taken from the financial statements of Crane Company at December 31, 2022. Buildings $133,308 Accounts receivable 15,876 Prepaid insurance 4,032 Cash 14,918 Equipment 103,824 Land 77,112 Insurance expense 983 Depreciation expense 6,678 Interest expense 3,276 Common stock 75,600 Retained earnings (January 1, 2022) 50,400 Accumulated depreciation-buildings 57,456 Accounts payable 11,970 Notes payable 117,936 Accumulated depreciation-equipment 23,587 Interest payable 4,536 Service revenue 18,522

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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