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Crane Department Store is located in midtown Metropolis. During the past several years, net income has been declining because suburban shopping centers have been attracting
Crane Department Store is located in midtown Metropolis. During the past several years, net income has been declining because suburban shopping centers have been attracting business away from city areas. At the end of the company's fiscal year on November 30, 2022, these accounts appeared in its adjusted trial balance. Accounts Payable Accounts Receivable Accumulated Depreciation-Equipment Cash Common Stock Cost of Goods Sold Freight-Out Equipment Depreciation Expense Dividends Gain on Disposal of Plant Assets Income Tax Expense Insurance Expense Interest Expense Inventory Notes Payable Prepaid Insurance Advertising Expense Rent Expense Trial Balance Retained Earnings Salaries and Wages Expense Sales Revenue Salaries and Wages Payable Sales Returns and Allowances Utilities Expense $ 16,000 10,300 40,800 4,800 21,000 365,700 3,700 95,600 8,100 7,200 1,200 6,000 5,400 3,000 15,700 26,100 3,600 20,100 20,400 8,500 71,300 542,400 3,600 12,400 6,300
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