Please do not give solution in image format thanku These financial statement items are for Crane Company at year-end, July 31, 2022.Salaries and wages payable $2,400Salaries and wages expense52,000Utilities expense22,30030,9004,60063,4008,400EquipmentAccounts payableService revenueRent revenueNotes payable (due after 2023)CashAccounts receivableAccumulated depreciation equipmentOwner's drawingsDepreciation expenseOwner's capital (beginning of the year)$1,90015,10010,2006,4003,0004,10050,500 10CRANE COMPANYBalance SheetJuly 31, 2022Assets$Liabilities and Owner's EquitySLiabilities and Owner's Equity

The income statement is one of the important financial statements of the business. It records the…

These financial statement items are for Crane Company at year-end, July 31, 2022. Salaries and wages payable Salaries and wages expense Utilities expense Equipment Accounts payable Service revenue $2,400 Notes payable (due after 2023) 52,000 Cash 22,300 Accounts receivable 30,900 Accumulated depreciation equipment 4,600 Owner's drawings 63.400 Depreciation expense $1,900 15,100 10,200 6,400 3,000 4.100

These financial statement items are for Crane Company at year-end, July 31, 2022. Salaries and wages payable Salaries and wages expense Utilities expense Equipment Accounts payable Service revenue $2,400 Notes payable (due after 2023) 52,000 Cash 22,300 Accounts receivable 30,900 Accumulated depreciation equipment 4,600 Owner's drawings 63.400 Depreciation expense $1,900 15,100 10,200 6,400 3,000 4.100

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 10MC

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