Crown Specialties reported the following at December 31, 2016 (in thousands): 1. Determine the following items for
Question:
1. Determine the following items for Crown Specialties during 2016:
a. Gain or loss on the sale of property and equipment
b. Amount of long-term debt issued for something other than cash
Transcribed Image Text:
A1 2016 2015 2 From the comparative balance sheet: 3 Property and equipment, net 4Long-term notes payable 5 From the statement of cash flows: 6 Depreciationn 7 Capital expenditures 8 Proceeds from sale of property and equipment 9 Proceeds from issuance of long-term note payable 10 Payment of long-term note payable 11 Issuance of common stock 12 11,000 4100 9,640 010 1,890 4,130 800 1,175 150) 386
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a All in thousands Loss on sale of Book value of assets sold Proceeds from sale of assets prope...View the full answer
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Related Book For
Financial Accounting
ISBN: 978-0134127620
11th edition
Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz
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