Question

McKnight Exercise Equipment, Inc. reported the following financial statements for 2015:


Requirements
1. Compute the amount of McKnight Exercise’s acquisition of plant assets. McKnight Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $ 44,400. No cash was received upon disposal.
2. Compute new borrowing or payment of long- term notes payable, with McKnight Exercise having only one long-term note payable transaction during the year.
3. Compute the issuance of common stock with McKnight Exercise having only one common stock transaction during the year.
4. Compute the payment of cashdividends.


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  • CreatedJanuary 16, 2015
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