Reference no: EM132861479
Problem - From the comparative balance sheet
Three-Eyed Raven Ltd. reported the following on December 31, 2016 (in thousands):
Property and equipment, net $11,150 $9,590
Long-term notes payable 4,400 3,080
From the statement of cash flows:
Depreciation $1,920
Capital expenditures (4,130)
Proceeds from sale of property and equipment 770
Proceeds from issuance of long-term note payable 1,190
Payment of long-term note payable (110)
Issuance of common shares 383
Required - Determine the following items for Three Eyed Raven Ltd. During 2016:
- Gain or loss on the sale of property and equipment.
- Amount of long-term debt issued for something other than cash.
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