Long-term debt $1,000 Accumulated depreciation—equipment $6,000 Prepaid insurance 790 Accounts payable 1,400 Equipment 11,500 Notes payable (due after 2021) 400 Stock investments (long-term) 200 Owner’s capital 11,690 Debt investments (short-term) 3,600 Accounts receivable 1,400 Notes payable (due in 2021) 500 Inventory 1,400 Cash 2,100
Long-term debt $1,000 Accumulated depreciation—equipment $6,000 Prepaid insurance 790 Accounts payable 1,400 Equipment 11,500 Notes payable (due after 2021) 400 Stock investments (long-term) 200 Owner’s capital 11,690 Debt investments (short-term) 3,600 Accounts receivable 1,400 Notes payable (due in 2021) 500 Inventory 1,400 Cash 2,100
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter4: Income Measurement And Accrual Accounting
Section: Chapter Questions
Problem 4.33E
Related questions
Question
he following items were taken from the financial statements of P. Crane Company. (All amounts are in thousands.)
Long-term debt
|
$1,000 |
|
$6,000 | |||
---|---|---|---|---|---|---|
Prepaid insurance
|
790 |
Accounts payable
|
1,400 | |||
Equipment
|
11,500 |
Notes payable (due after 2021)
|
400 | |||
Stock investments (long-term)
|
200 |
Owner’s capital
|
11,690 | |||
Debt investments (short-term)
|
3,600 |
|
1,400 | |||
Notes payable (due in 2021)
|
500 |
Inventory
|
1,400 | |||
Cash
|
2,100 |
Prepare a classified
P. CRANE COMPANY
Balance Sheet choose the accounting period (in thousands) |
||||||
---|---|---|---|---|---|---|
Assets
|
||||||
select an opening name for subsection one
|
||||||
enter a balance sheet item
|
$enter a dollar amount
|
|||||
enter a balance sheet item
|
enter a dollar amount
|
|||||
enter a balance sheet item
|
enter a dollar amount
|
|||||
enter a balance sheet item
|
enter a dollar amount
|
|||||
enter a balance sheet item
|
enter a dollar amount | |||||
select a closing name for subsection one
|
|
$enter a total amount for subsection one
|
||||
select a balance sheet item
|
||||||
enter a balance sheet item |
enter a dollar amount
|
|||||
select an opening name for subsection two
|
||||||
enter a balance sheet item
|
enter a dollar amount
|
|||||
select between addition and deduction : enter a balance sheet item
|
|
enter a dollar amount |
enter a subtotal of the two previous amounts
|
|||
select a closing section name for this part of the balance sheet
|
|
|
$enter a total amount for this part of the balance sheet
|
|||
Liabilities and Owner's Equity
|
||||||
select an opening name for subsection one
|
||||||
enter a balance sheet item
|
$enter a dollar amount
|
|||||
enter a balance sheet item
|
enter a dollar amount | |||||
select a closing name for subsection one
|
|
$enter a total amount for subsection one of the second part of the balance sheet
|
||||
select an opening name for subsection two
|
||||||
enter a balance sheet item
|
enter a dollar amount
|
|||||
enter a balance sheet item
|
enter a dollar amount | |||||
select a closing name for subsection two
|
|
enter a total of the two previous amounts
|
||||
select a closing name for section one
|
enter a total amount for this section of the balance sheet
|
|||||
select an opening name for section two
|
||||||
enter a balance sheet item
|
enter a dollar amount
|
|||||
select a closing name for this part of the balance sheet
|
|
|
$enter a total amount for this part of the balance sheet
|
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