The adjusted trial balance for Crane Company is shown below. CRANE COMPANY Trial Balance August 31, 2020 Before Adjustment After Adjustment Dr. Cr. Dr. Cr. Cash $10,500 $10,500 Accounts Receivable 8,500 9,500 Supplies 2,400 600 Prepaid Insurance 3,700 2,500 Equipment 12,800 12,800 Accumulated Depreciation-Equipment $ 3,700 $ 4,600 Accounts Payable 5,700 5,700 Salaries and Wages Payable 0 1,300 Unearned Rent Revenue 1,300 600 Owner’s Capital 14,000 14,000 Service Revenue 34,000 35,000 Rent Revenue 10,900 11,600 Salaries and Wages Expense 16,800 18,100 Supplies Expense 0 1,800 Rent Expense 14,900 14,900 Insurance Expense 0 1,200 Depreciation Expense 0 900 $69,600 $69,600 $72,800 $72,800 Prepare the owner’s equity statement for the year. CRANE COMPANY Owner’s Equity Statement $ : $ SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the balance sheet at August 31. (List Assets in order of liquidity.) CRANE COMPANY Balance Sheet Assets $ $ : $ Liabilities and Owner’s Equity $ $
Prepare the owner’s equity statement for the year.
CRANE COMPANY
Owner’s Equity Statement
For the Year Ended August 31, 2020August 31, 2020For the Month Ended August 31, 2020
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DrawingsExpensesInvestmentNet Income / (Loss)Owner’s Capital, September 1, 2019Owner’s Capital, August 31, 2020RevenuesTotal ExpensesTotal Revenues
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DrawingsExpensesInvestmentNet Income / (Loss)Owner’s Capital, September 1, 2019Owner’s Capital, August 31, 2020RevenuesTotal ExpensesTotal Revenues
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DrawingsExpensesInvestmentNet Income / (Loss)Owner’s Capital, September 1, 2019Owner’s Capital, August 31, 2020RevenuesTotal ExpensesTotal Revenues
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SHOW LIST OF ACCOUNTS
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LINK TO TEXT
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Prepare the balance sheet at August 31. (List Assets in order of liquidity.)
CRANE COMPANY
Balance Sheet
For the Month Ended August 31, 2020August 31, 2020For the Year Ended August 31, 2020
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Current Assets Liabilities Expenses Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Revenues Owner’s Equity Total Assets Total Current Assets Total Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total Liabilities and Owner’s Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Revenues Total Owner’s Equity
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Liabilities and Owner’s Equity
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Current AssetsLiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentRevenuesOwner’s EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Owner’s EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesTotal Owner’s Equity
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Current Assets Liabilities Expenses Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Revenues Owner’s Equity Total Assets Total Current Assets Total Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total Liabilities and Owner’s Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Revenues Total Owner’s Equity
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Current AssetsLiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentRevenuesOwner’s EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Owner’s EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesTotal Owner’s Equity
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Current Assets Liabilities Expenses Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Revenues Owner’s Equity Total Assets Total Current Assets Total Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total Liabilities and Owner’s Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Revenues Total Owner’s Equity
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