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Crane Company was organized on April 1, 2022. The company prepares quarterly financial statements. The adjusted trial balance at June 30 is shown here. Debit
Crane Company was organized on April 1, 2022. The company prepares quarterly financial statements. The adjusted trial balance at June 30 is shown here. Debit Credit Cash Accounts Receivable $6,100 Accumulated Depreciation-Equipment $800 480 Notes Payable 4,800 Prepaid Rent 1,100 Accounts Payable 900 Supplies 900 Salaries and Wages Payable 300 Equipment 12,300 Interest Payable 80 Owner's Drawings 600 Unearned Rent Revenue 300 Salaries and Wages Expense 7,600 Owner's Capital 11,880 Rent Expense 1,200 Service Revenue 11,100 Depreciation Expense 800 Rent Revenue 1,400 Supplies Expense 100 $31,560 Utilities Expense 300 Interest Expense 80 $31,560 (b) * Your answer is incorrect. Determine the total assets and total liabilities at June 30, 2022, for Crane Company. Crane Company Total assets $ Total liabilities 19524 5756
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