A list of financial statement items for Crane Corporation includes the following: accounts receivable $15,000; cash...

Transcribed Image Text:

A list of financial statement items for Crane Corporation includes the following: accounts receivable $15,000; cash $14,600; inventory $7,400; supplies $5,100: prepaid insurance $5,300; accumulated depreciation-buildings $31,100; accumulated depreciation- equipment $26,600; buildings $108,500; equipment $69,800; and land $63,600. Prepare the assets section of the statement of financial position. (List Current Assets in order of liquidity. List Property, Plant, and Equipment in order of Land, Buildings and Equipment.) A list of financial statement items for Crane Corporation includes the following: accounts receivable $15,000; cash $14,600; inventory $7,400; supplies $5,100: prepaid insurance $5,300; accumulated depreciation-buildings $31,100; accumulated depreciation- equipment $26,600; buildings $108,500; equipment $69,800; and land $63,600. Prepare the assets section of the statement of financial position. (List Current Assets in order of liquidity. List Property, Plant, and Equipment in order of Land, Buildings and Equipment.)

Answer rating: 100% (QA)

To prepare the assets section of the statement of financial position we need to list the current assets in order of liquidity and then list property p... View the full answer