Problems Chapter 10

Problems Chapter 10 - Problem 10-17 The following...

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Unformatted text preview: Problem 10-17 The following horizontal financial statements model is not required in the problem. It is provided to show the process of computation. Event Assets = Equity Income Statement Office Manuf. Cont. Cash No. Cash + Invent. + Furn.* + Equip*. = Cap. + Ret. Ear. Rev. Exp. = Net Inc. Flow 1 90,000 + + + = 90,000 + = 90,000 FA 2a (10,000) + + 10,000 + = + = (10,000) IA 2b + + (2,000) + = + (2,000) 2,000 = (2,000) 3a (28,000) + + + 28,000 = + = (28,000) IA 3b + 8,000 + + (8,000) = + = 4 (12,000) + + + = + (12,000) 12,000 = (12,000) (12,000) OA 5 (16,000) + 16,000 + + = + = (16,000) OA 6 (18,000) + 18,000 + + = + = (18,000) OA 7a 48,000 + + + = + 48,000 48,000 = 48,000 48,000 OA 7b + (33,600) + + = + (33,600) 33,600 = (33,600) Total 54,000 + 8,400 + 8,000 + 20,000 = 90,000 + 400 48,000 47,600 = 400 54,000 *Record accumulated depreciation as negative amounts under these columns . Problem 10-17 (continued)...
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This homework help was uploaded on 04/01/2008 for the course ACIS 2004 taught by Professor Cmeasterwood during the Fall '07 term at Virginia Tech.

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Problems Chapter 10 - Problem 10-17 The following...

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