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Exercise 23-16 The balance sheet data of Crane Company at the end of 2020 and 2019 are shown below. Cash Accounts receivable (net) Inventory Prepaid
Exercise 23-16 The balance sheet data of Crane Company at the end of 2020 and 2019 are shown below. Cash Accounts receivable (net) Inventory Prepaid expenses Equipment Accumulated depreciation-equipment Land 2020 $30,100 55,000 64,600 15,000 90,200 (18,040 ) 70,200 $307,060 2019 $35,100 44,900 45,100 24,700 74,500 (8,000) 39,800 $256,100 Accounts payable Accrued expenses Notes payable-bank, long-term Bonds payable Common stock, $10 par Retained earnings $64,600 14,800 -0- 30,300 190,400 $52,500 17,900 22,900 -0- 160,000 2,800 $256,100 6,960 $307,060 Land was acquired for $30,400 in exchange for common stock, par $30,400, during the year; all equipment purchased was for cash. Equipment costing $13,200 was sold for $3,100; book value of the equipment was $6,100. Cash dividends of $10,100 were declared and paid during the year. Compute t cash by: (Show amounts that cash flow with either a - sign e.g. -12,000 or in e.g. (a) Net Cash (b) Net Cash (c) Net Cash by operating activities. $ by investing activities. $ by financing activities. $ Click if you would like to Show Work for this question: Open Show Work
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