Homework Answers
Solution:
| Assets | = | Stockholder's Equity | Revenue | - | Expenses | = | Net income | Cash Flow | ||||||
| Cash | + | Book value of compressor | Common stock | + | Retained earnings | |||||||||
| $11,900.00 | + | $60,800.00 | = | $24,500.00 | + | $48,200.00 | - | = | ||||||
| a | -$7,560.00 | + | = | + | -$7,560.00 | - | $7,560.00 | = | -$7,560.00 | -$7,560.00 | OA | |||
| b | -$7,560.00 | + | $7,560.00 | = | + | - | = | -$7,560.00 | IA | |||||
| c | -$7,560.00 | + | $7,560.00 | = | + | - | = | -$7,560.00 | IA | |||||
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+ Sellers Construction Company purchased a compressor for $112,000 cash. It had an estimated useful life of four ye...
Sellers Construction Company purchased a compressor for $106,000 cash. It had an estimated useful life of...
Sellers Construction Company purchased a compressor for $106,000 cash. It had an estimated useful life of four years and a $12,000 salvage value. At the beginning of the third year of use, the company spent an additional $8,490 related to the equipment. The company's financial condition just prior to this expenditure is shown in the following statements model: Income Statement Stockholders' Equity Balance Sheet Assets Book Value of Compressor 59,000 Statement of Cash Flows Cash + - Com. Stk. +...
please answer ASAP thank you Sellers Construction Company purchased a compressor for $116,000 cash. It had...
please answer ASAP thank you
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Arizona Corp. acquired the business Data Systems for $320,000
cash and assumed all liabilities at the date of purchase. Data’s
books showed tangible assets of $340,000, liabilities of $19,000,
and stockholders’ equity of $321,000. An appraiser assessed the
fair market value of the tangible assets at $310,000 at the date of
acquisition. Arizona Corp.’s financial condition just prior to the
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Assets
=
Liab.
+
Equity
Rev.
–
Exp.
=
Net Inc.
Cash...
Sellers Construction Company purchased a compressor for $106,000 cash. It had an estimated useful life of four years and a $12,000 salvage value. At the beginning of the third year of use, the company spent an additional $8,490 related to the equipment. The company's financial condition just prior to this expenditure is shown in the following statements model: Income Statement Stockholders' Equity Balance Sheet Assets Book Value of Compressor 59,000 Statement of Cash Flows Cash + - Com. Stk. +...
please answer ASAP thank you
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cash and assumed all liabilities at the date of purchase. Data’s
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fair market value of the tangible assets at $310,000 at the date of
acquisition. Arizona Corp.’s financial condition just prior to the
acquisition is shown in the following statements model:
Assets
=
Liab.
+
Equity
Rev.
–
Exp.
=
Net Inc.
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