Delorme Specialties reported the following at December 31, 2010 (in thousands): Requirement 1. Determine the following items
Question:
Requirement
1. Determine the following items for Delorme Specialties during 2010:
a. Gain or loss on the sale of property and equipment
b. Amount of long-term debt issued for something other thancash
Transcribed Image Text:
2010 2009 From the comparative balance sheet Property and equipment, ne.$10,950 9,630 Long-term notes payable....4,500 3,040 From the statement of cash flows: DepreciationS 1,950 Capital expenditures....(4,090) Proceeds from sale of property and equipment Proceeds from issuance of long-term note payable...1,250 Payment of long-term note payable.. Issuance of common stock.». 740 (80) 389
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Related Book For
Financial accounting
ISBN: 978-0136108863
8th Edition
Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas
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