Question: Please use same table for Solution Golden Manufacturing Company started operations by acquiring $150,000 cash from the issue of common stock. On January 1, 2018,
Please use same table for Solution





Golden Manufacturing Company started operations by acquiring $150,000 cash from the issue of common stock. On January 1, 2018, the company purchased equipment that cost $120,000 cash, had an expected useful life of six years, and had an estimated salvage value of $4,000. Golden Manufacturing earned $72,000 and $83,000 of cash revenue during 2018 and 2019, respectively. Golden Manufacturing uses double-declining-balance depreciation Required a. Record the purchase in a horizontal statements model. b-1.Prepare an income statements for 2018 and 2019. Use a vertical statements format. b-2.Prepare a balance sheets for 2018 and 2019. Use a vertical statements format. b-3. Prepare a statements of cash flows for 2018 and 2019. Use a vertical statements format. Complete this question by entering your answers in the tabs below Req B1 Inc Stmt Req B2 BalReq B3 Stmt Sheet Cash
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
