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Problem 16-06A The following data, presented in alphabetical order, are taken from the records of Crane Corporation. Accounts payable $239,200 Accounts receivable 139,200 Accumulated depreciation-buildings
Problem 16-06A The following data, presented in alphabetical order, are taken from the records of Crane Corporation. Accounts payable $239,200 Accounts receivable 139,200 Accumulated depreciation-buildings 179,600 Accumulated depreciation-equipment 52,800 Allowance for doubtful accounts 6,800 Bonds payable (10%, due 2028) 499,700 Buildings 949,500 Cash 41,700 Common stock ($10 par value; 506,600 shares authorized, 149,400 shares issued) 1,494,000 Dividends payable 79,600 Equipment 275,700 Goodwill 200,900 Income taxes payable 119,200 Inventory 170,300 Investment in Mara common stock (30% ownership), at equity 379,400 Investment in Sasse common stock, at fair value 278,600 Land 389,000 Notes payable (due 2021) 70,400 Paid-in capital in excess of par-common stock 135,900 Premium on bonds payable 40,400 Prepaid insurance 16,500 Retained earnings 103,500 Short-term investments, at fair value 180,300 Prepare a classified balance sheet at December 31, 2020. (List assets in order of liquidity. List Property, plant and equipment list in order of land, buildings and equipment.) CRANE CORPORATION Balance Sheet Assets $ Liabilities and Stockholders' Equity s
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