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I need help Current Attempt in Progress The bookkeeper for Crane Company has prepared the following balance sheet as of June 30,2025 : The following
I need help
Current Attempt in Progress The bookkeeper for Crane Company has prepared the following balance sheet as of June 30,2025 : The following additional information is provided: $98,410; (b) accounts receivable-credit balances $8,000; (c) allowance for doubtful accots $7,000. 3. Inventory costing $5,151 was shipped out on consignment on June 30,2025 . The ending inventory balance does not include the consigned goods. Receivables in the amount of $5,151 were recognized on these consigned goods. 4. Equipment had a cost of $262,410 and an accumulated depreciation balance of $75,410. 5. Taxes payable of $21,500 were accrued on June 30 . Crane Company, however, had set up cash fund to meet this obligation. This cash fund was not included in the cash balance but was offset against the taxes payable amount. Prepare a corrected classified balance sheet as of June 30,2025 , from the available information, adjusting the account balances using the additional information. (List Current Assets in order of liquidity.)Step by Step Solution
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