home / study / business / accounting / accounting questions and answers / required: 1. prepare the t-accounts for dux company. (do not round your intermediate calculations. ...

Your question has expired and been refunded.

We were unable to find a Chegg Expert to answer your question.

Question: Required: 1. Prepare the T-accounts for Dux Company. (Do not round your intermediate calculations...

Required: 1. Prepare the T-accounts for Dux Company. (Do not round your intermediate calculations. Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign.)

2. Prepare the statement of cash flows for Dux Company. Use the T-account method to assist in your analysis. (Do not round your intermediate calculations. Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign.)

Required Information The comparative balance sheets for 2018 and 2017 and the statement of Income for 2018 are glven below for Dux Company. Additional Information from Dux's accounting records is provided also. DLX COMPANY Comparative Balance Sheets December 31, 2818 and 2817 s in 888s) 2818 2817 Assets $ 52 $31 78 Accounts receivable 41 Less: Allowance for uncollectible accounts Dividends receivable 95 5e 189 Long-term investment 95 162 200 Less: Accumulated depreciation (38) (88) S 467 460 Liabilities Accounts payable Salaries payable Interest payable Income tax payable Notes payable Bonds payable $46 82 5e Less: Discount on bonds Cormon stock Paid-in capital-excess of par Retained earnings 218 289 97 (18)e S 467 46e 93 Less: Treasury stock (at cost) DLX COMPANY Incone Statement For the Year Ended Decenber 31, 2818 $ in 888s) Sales revenue Dividend revenue 37e 4 $374 Cost of goods sold Salaries expense Depreciation expense Bad debt expense Interest expense Loss on sale of building Income tax expense 245 38 18 $ 45 35e $ 24 Net income Addltional Information from the accounting records a. A building that orlginally cost $68,000, and which was three-fourths depreclated, was sold for $15,000. b. The common stock of Byrd Corporation was purchased for $4,000 as a long-term Investment. C. Property was acquired by issuing a 15%, seven-year, $10,000 note payable to the seller. d. New equlpment was purchased for $30,000 cash. e. On January 1, 2018, bonds were sold at thelr $30,000 face value. f. On January 19, Dux issued a 5% stock dividend (1,000 shares). The market price of the $10 par value common stock was $14 per share at that time. g. Cash diMdends of $13,000 were pald to shareholders. h On November 12 1000 shares of common stock were repurchased as treasury stock at a cost of $10.000