Question

Kyler Media Corporation had the following income statement and balance sheet for 2015:
KYLER MEDIA CORPORATION
Income Statement
Year Ended December 31, 2015
Sales Revenue ..................... $ 80,000
Depreciation Expense––Plant Assets ............ 5,600
Other Expenses ..................... 49,000
Net Income ............... $ 25,400


Requirements
1. Compute the acquisition of plant assets for Kyler Media Corporation during 2015. The business sold no plant assets during the year.
2. Compute the payment of a long-term note payable. During the year, the business issued a $ 5,300 notepayable.


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  • CreatedJanuary 16, 2015
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