The following selected accounts from Crane Corporation's general ledger are presented below for the year ended December 31. 2021: Accounts payable Accounts receivable Accumulated depreciation-equipment Cash Common shares Cost of goods sold Depreciation expense $101.920 153,920 595,920 12.480 312,000 2,002,000 289,120 Equipment Income tax expense Insurance expense Inventory Prepaid expenses Retained earnings Salaries expense Sales $1,730,560 137.280 133,120 388,960 46,800 703.040 957,840 4,139,200

The following selected accounts from Crane Corporation's general ledger are presented below for the year ended December 31. 2021: Accounts payable Accounts receivable Accumulated depreciation-equipment Cash Common shares Cost of goods sold Depreciation expense $101.920 153,920 595,920 12.480 312,000 2,002,000 289,120 Equipment Income tax expense Insurance expense Inventory Prepaid expenses Retained earnings Salaries expense Sales $1,730,560 137.280 133,120 388,960 46,800 703.040 957,840 4,139,200

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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