the comparative balance sheet of del ray enterprises inc at december 31 2016 and 201 4375139

The comparative balance sheet of Del Ray Enterprises Inc. at December 31, 2016 and 2015, is as followsAdditional data obtained from the income statement and from an examination of the acconts in the ledger for 2016 are as follow:a. Net income, $332,000b. Depreciation reported on the income statement, $83,400c. Equipment was purchased at a cost of $162,800 and fully depreciated equipment costing $44,800 was discarded, with no salvage realized.d. The mortgage note payable was not due until 2018 but the terms permitted earlier payment without penalty.e. 10,000 shares of common stock were issued at $20 for cash.f. Cash dividends declared and paid, $153,600InstructionsPrepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities.View Solution:
The comparative balance sheet of Del Ray Enterprises Inc at

Related Articles

armstrong helmet company 239138

Armstrong Helmet Company manufactures a unique model of bicycle helmet Question Case project Learning Objectives: Prepare practical applications of course concepts Develop analytical and critical thinking Develop decision-making capabilities Enhance professional...

read more
GET A FREE QUOTE





  
Open chat
Need help? We are Online 24/7
Hello 👋
Can we help you?