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Golden Manufacturing Company started operations by acquiring $126,000 cash from the issue of common stock. On January 1, Year 1, the company purchased equipment
Golden Manufacturing Company started operations by acquiring $126,000 cash from the issue of common stock. On January 1, Year 1, the company purchased equipment that cost $116,000 cash, had an expected useful life of five years, and had an estimated salvage value of $11.600, Golden Manufacturing earned $89,640 and $61,020 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. Req A Req B1 Inc Stmt Req 82 Bal Sheet Reg B3 Stmt Cash Flows the intent tacinnate operating activity
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