User Account

All Pages

Present the statements in the form of a vertical statements

Assignment Help Accounting Basics
Reference no: EM13928330

Regions Company started business by acquiring $50,000 cash from the issue of common stock on January 1, 2013. The cash acquired was immediately used to purchase equipment for $50,000 that had a $10,000 salvage value and an expected useful life of four years. The equipment was used to produce the following revenue stream (assume that all revenue transactions are for cash). At the beginning of the fifth year, the equipment was sold for $8,800 cash. Regions use straight line depreciation.

1567_264-B-A-I-A (3516).png

Required: 

Prepare income statements, statements of changes in stockholder's equity, balance sheets, and statements of cash flows for each of the five years. Present the statements in the form of a vertical statements model.

Reference no: EM13928330

Questions Cloud

What are the functions of each layer of the osi model : Identify the electronic components of a communication system. What is the rationale for "Structured Wiring" and What are the differences and similarities between a loop start system and a ground start system?
What is the evidence of the problem : Formulate a research question related to the workplace problem that you identified. Use the following questions as a guideline for help in formulating your final research question: What is the specific problem? What is the evidence of the problem
Defamation of a nonpublic figure : 1) How does product disparagement differ from defamation of a nonpublic figure?
How is opportunity cost concept used in capital budgeting : How is the opportunity cost concept used in the capital budgeting process? What are the potential tax consequences of selling an old asset in an asset replacement investment decision?
Present the statements in the form of a vertical statements : Prepare income statements, statements of changes in stockholder's equity, balance sheets, and statements of cash flows for each of the five years.
How software development team approach prioritization tasks : In a software development project, there are often a great number of requested features, enhancement requests, defect fixes, etc. to be completed. How should a software development team approach the prioritization of these tasks and how resources ..
Calculate the net investment for the new line : Delivery and installation of the new line are expected to cost an additional $100,000. Assuming Fleming's marginal tax rate is 40 percent, calculate the net investment for the new line.
Describe experience when you were inspired to shared vision : Describe with some detail an experience where you "inspired a shared vision" in a colleague, follower, or organization. How did you inspire a shared vision, and what specific behavior(s) and/or actions contributed to your ability to do so?
Legal use of electronic contracts : 1) What federal statute governs the legal use of electronic contracts? 2) Oral agreements may be legally enforceable contracts with the exception of some types of contracts specified in which law?

Reviews

Write a Review

Accounting Basics Questions & Answers

  At december 31 2010 sager co had 1200000 shares of common

at december 31 2010 sager co. had 1200000 shares of common stock outstanding. in addition sager had 450000 shares of

  Keillor companys inventory of 1100000 at december 31 2010

keillor companys inventory of 1100000 at december 31 2010 was based on a physical count of goods priced at cost and

  The lion company show the dividend revenue

The fair values of all of Wolf's assets, net of liabilities, were equal to their book values of $6,500,000.

  Bank reconciliation benson plastics company deposits all

bank reconciliation. benson plastics company deposits all receipts and makes all payments by check. the following

  Discharge of debt during bankruptcy usa corporation debt

discharge of debt. during bankruptcy usa corporation debt was reduced from 780000 to 400000. usa corporationu2019s

  A company has the choice of either selling 4000 defective

a company has the choice of either selling 4000 defective units as scrap or rebuilding them. they could sell the

  Luthan company uses a predetermined overhead rate of 2340

luthan company uses a predetermined overhead rate of 23.40 per direct labor-hour. this predetermined rate was based on

  Berhas cellular sells phones for 100 the unit variable cost

berhas cellular sells phones for 100. the unit variable cost per phone is 50 plus a selling commission of 10. fixed

  Serta carpet which manufactures carpet incurred the

serta carpet which manufactures carpet incurred the following costs for march when 2600 yards of carpet were produced

  Statements concerning guaranteed residual values

Which of the following statements concerning guaranteed residual values is appropriate for the lessee?

  Explain and demonstrate the use of bonds and other debt

in your report please include the information together with other information that you think is necessary to above

  Compute the present value of the pension obligation to

three employees of the horizon distributing company will receive annual pension payments from the company when they

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd