Determine the total assets of Crane Company at December

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Question - Presented below is selected information related to Crane Company at December 31, 2020. Crane reports financial information monthly.

Accounts Payable $3,358 Salaries and Wages Expense $18,467

Cash $7,275 Notes Payable $27,980

Advertising Expense $6,715 Rent Expense $11,752

Service Revenue $59,877 Accounts Receivable $15,109

Equipment $32,457 Owner's Drawings $8,394

Required -

Determine the total assets of Crane Company at December 31, 2020.

Determine the net income that Crane Company reported for December 2020.

Determine the owner's equity of Crane Company at December 31, 2020.

Reference no: EM132441243

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