Delorme Specialties reported the following at December 31, 2018 (in thousands): Requirement 1. Determine the following items
Question:
Delorme Specialties reported the following at December 31, 2018 (in thousands):
Requirement
1. Determine the following items for Delorme Specialties during 2018:
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 A. 2018 2017 2 From the comparative balance sheet: Property and equipment, net Long-term notes payable 5 From the statement of cash flows: Depreciation Capital expenditures Proceeds from sale of property and equipment Proceeds from issuance of long-term note payable Payment of long-term note payable $ 11,200 4,400 $ 9,580 3,100 $ 1,950 (4,100) 830 1,200 (110) 389 9. 10 Issuance of common stock 11 12
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Req 1 a b Gain on sale of property and equipment 300 Bal ...View the full answer
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Related Book For
Financial Accounting
ISBN: 978-0134725987
12th edition
Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.
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