Question
The adjusted trial balance for Crane Corporation at July 31, 2021, the corporations fiscal year end, contained the following: Accounts payable $ 84,500 Note payable
The adjusted trial balance for Crane Corporation at July 31, 2021, the corporations fiscal year end, contained the following:
Accounts payable | $ 84,500 | Note payable | $123,000 | |||
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Accounts receivable | 98,500 | Lease liability | 57,000 | |||
Bonds payable, due 2025 | 180,500 | Note receivable, due December 2021 | 31,000 | |||
Interest payable | 4,500 | Unearned revenue | 9,000 |
Of the lease liability amount, $14,250 is due within the next year. Total payments on the note payable in the fiscal year 2022 will be $23,500: $6,000 is for interest and $17,500 for principal repayments. (a) Prepare the non-current liabilities section of the balance sheet as at July 31, 2021. (Enter account name only and do not provide descriptive information.)
CRANE CORPORATION Balance Sheet (Partial) choose the accounting period For the Year Ended July 31, 2021For the Month Ended July 31, 2021July 31, 2021 | ||
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select an opening section name Shareholders' EquityCurrent AssetsNon-Current LiabilitiesTotal AssetsTotal Current LiabilitiesTotal Liabilities and Shareholders' EquityTotal Intangible AssetsCurrent LiabilitiesTotal LiabilitiesProperty, Plant and EquipmentTotal Current AssetsIntangible AssetsTotal Shareholders' EquityTotal Non-Current LiabilitiesTotal Property, Plant and Equipment | ||
enter a balance sheet item | $enter a dollar amount | |
enter a balance sheet item | enter a dollar amount | |
enter a balance sheet item | enter a dollar amount | |
select a closing section name Current LiabilitiesTotal Current AssetsTotal AssetsTotal Current LiabilitiesTotal LiabilitiesTotal Property, Plant and EquipmentNon-Current LiabilitiesTotal Shareholders' EquityTotal Liabilities and Shareholders' EquityProperty, Plant and EquipmentTotal Non-Current LiabilitiesShareholders' EquityIntangible AssetsTotal Intangible AssetsCurrent Assets | $enter a total amount for this section |
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