Double declining depreciatiom and horizontal statement model. and the rest of statement i guess. Also can you give and workout the fromula for it too. The forumla in the book is Book value ( purchase price- salvage) x double straight line rate.

Complete this question by entering your answers in the tabs below. Event Req B1 Inc Stmt Year 1 Issue stock Req A Record the above transactions in a horizontal statements model. (In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (FA) and net change in cash (NC). If the element is not affected by the event, leave the cell blank. Enter any decreases to account balances and cash o not round intermediate calculations. Round the final answers to nearest dollar amount. Not all cells will require entry.) Purchase equipment Revenue Depreciation expense Balance Year 2 Beg, bat Req B2 Bal Req 83 Stmt Sheet Cash Revenue Depreciation expense End. bal Cash Assets 14 114,000+ (104,000). 91,020. 0 . 101,020 + . Balance Sheet BV Equipment M 104,000 - 0 I GOLDEN MANUFACTURING COMPANY Horizontal Statements Model W M Income Statement 0 Expense | M 37,440 37,440 Req B1 Ine Stat > 0 W - . = W W W Net Income 91,202 91,202 Return to question 0 Statement of Cas Flows 114,000 FA (104,000) OA 91,202 OA 101,202 0 Golden Manufacturing Company started operations by acquiring $114,000 cash from the issue of common stock. On January 1, Year 1, the company purchased equipment that cost $104,000 cash, had an expected useful life of five years, and had an estimated salvage value of $10,400. Golden Manufacturing earned $91,020 and $67,900 of cash revenue during Year 1 and Year 2, respectively. Golden Manufacturing uses double-declining-balance depreciation. Required a. Record the above 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