Question

Superior Exercise Equipment, Inc. reported the following financial statements for 2018:

Requirements

1.) Computer the amount of Superior Exercise's acquisition of plant assets. Assume the acquisition was for cash. Superior Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $45,700. No cash was received upon disposal.

2.) Compute new borrowing or payment of long-term notes payable, with Superior Exercise having only one long-term notes payable transaction during the year.

3.) Computer the issuance of common stock with Superior Exercise having only one common stock transaction during the year.

4.) Compute the payment of cash dividends.

Superior Exercise Equipment, Inc. reported the following financial statements for 2018 EEB (Click the icon to view the income statement)EClick the icon to view the comparative balance sheet) Read the requirements. Requirement 1. Compute the amount of Superior Exercise's acquisition of plant assets. Superior Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $45,700. No cash was received upon disposal The acquisitions of plant assets amounts to $ Enter any number in the edit fields and then click Check Answer 3 Pemaining Clear All Check Answer

Answer 1

Answer

1. Purchase of Plant:

2

Notes Payable during the Year Balance of Notes Payable as on 1-1-2018 $ 72,000.00 Less: Payment during the Year(Bal. Fig) 12,000.00 Balance as on 31-12-2018 $60,000.00

3

4

CASH FLOW SUMMERY

Thanks/.