Chec Golden Manufacturing Company started operations by acquiring $77,000 cash from the issue of common stock. On January 1, Year 1, the company purchased equipment that cost $67.000 cash, had an expected useful life of five years, and had an estimated salvage value of $6,700. Golden Manufacturing earned $93,890 and $67,070 of cash revenue during Year 1 and Year 2, respectively, Golden Manufacturing uses double-declining balance depreciation. Required a. Record the transactions in a horizontal statements model b-1. Prepare income statements for Year 1 and Year 2 b-2. Prepare balance sheets for Year 1 and Year 2. b-3. Prepare statements of cash flows for Year 1 and Year 2. Complete this question by entering your answers in the tabs below. Reg A Req B1 Inc Reg B2 Bal Req B3 Stmt Stmt Sheet Cash Flows Record the transactions in a horizontal statements model. (In the Statement of Cash Flows column, use the initials OA to designate operating activity, IA for activity, and NC for net change in cash. Enter any decreases to account balances and cash outflows with a minus sign. Not all cells require input. Do not our Round your final answers to the nearest whole dollar) GOLDEN MANUFACTURING COMPANY Horizontal Statements Model Balance Sheet Assets Stockholder's Equity Revenue Book Value of Common Retained Stock Equipment Earnings Income Statement Expense Net Income Statement of Cash Flows Event Cash Year 1 Issue stock Reg A Reg Bl Inc Stmt Reg B2 Bal Sheet Reg B3 Strnt Cash Flows Record the transactions in a horizontal statements model. (In the Statement of Cash Flows column, use the initials OA to designate operating activity, IA for investing acti activity, and NC for net change in cash Enter any decreases to account balances and cash outflows with a minus sign. Not all cells require input. Do not round intermedial Round your final answers to the nearest whole dollar) GOLDEN MANUFACTURING COMPANY Horizontal Statements Model Balance Sheet Assets Stockholder's Equity Revenue Book Value Common Retained of Stock Earnings Equipment Income Statement Expense Net Income Statement of Cash Flows Event Cash + + + Year 1 Ise stock Purchase equipment Rovenue Depreciation expense Balance Year 2 Begbal Revenue Depreciation expense End, bal + KRA Req B1 Ine Stmt > a. Record the transactions in a horizontal statements model. b-1. Prepare income statements for Year 1 and Year 2. b-2. Prepare balance sheets for Year 1 and Year 2. b-3. Prepare statements of cash flows for Year 1 and Year 2. Complete this question by entering your answers in the tabs below. Reg A Req B1 Inc Reg B2 Bal Reg B3 Stmt Stmt Sheet Cash Flows Prepare income statements for Year 1 and Year 2. (Do not round Intermediate calculations. Round the final answers to nearest dollar amount.) GOLDEN MANUFACTURING COMPANY Income Statements Year 1 Year 2 b-3. Prepare statements of cash flows for Year 1 and Year 2. Complete this question by entering your answers in the tabs below. Reg 81 Inc Reg B2 Bal Reg B3 Stmt Red A Stmt Sheet Cash Flows Prepare balance sheets for Year 1 and Year 2. (Do not round intermediate calculations. Round the final answers to nearest dollar amount) GOLDEN MANUFACTURING COMPANY Balance Sheets Year 1 Year 2 Assets Total Assets Stockholders' equity Total stockholders' equity Complete this question by entering your answers in the tabs below. Req A Req B1 Inc Req B2 Bal Reg B3 Stmt Stmt Sheet Cash Flows Prepare statements of cash flows for Year 1 and Year 2. (Amounts to be deducted and cash outflows should be indicated with a minus sign. Do not round Intermediate calculations, Round the final answers to nearest dollar amount.) GOLDEN MANUFACTURING COMPANY Statements of Cash Flows Year 1 Year 2 Cash flows from operating activities Cash flows from investing activities Cash flows from financing activities Net change in cash Ending cash balance
