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I am struggling with event number 6 only on tab B. Sweet's Bakery makes cakes, ples, and other pastrles that it sells to local grocery
I am struggling with event number 6 only on tab B.
Sweet's Bakery makes cakes, ples, and other pastrles that it sells to local grocery stores. The company experlenced the following transactions during the Year 1: Use Appendix A. 1. Started business by acquiring $63,800cash from the issue of common stock. 2. On January 1, Year 1, the company purchased bakery equipment for $46,500 with a four-year ife and a $6,900 salvage value. 3. Had cash sales in Year 1 amounting to $43,400. 4. Paid $9,000 of cash for supplles which were all used during the year to make baked goods. 5. Pald other operating expenses of $12,800 for Year 1 . 6. Recorded depreciation on the bakery equipment. The MACRS recovery period is five years. :T 6-2: (Algo) Parts a and b equired: . Record each transaction in a horizontal statements model assuming the company uses the straight-line method of depreclation. Record each transaction in a horizontal statements model assuming the company uses the straight-line method of depreciation. account balances and cash outflows with a minus sign. Leave cells blank if no input is needed. Sweet's Bakery makes cakes, ples, and other pastrles that it sells to local grocery stores. The company experlenced the following transactions during the Year 1: Use Appendix A. 1. Started business by acquiring $63,800 cash from the Issue of common stock. 2. On January 1, Year 1 , the company purchased bakery equipment for $46,500 with a four-year llfe and a $6,900 salvage value. 3. Had cash sales in Year 1 amounting to $43,400. 4. Pald $9,000 of cash for supplies which were all used during the year to make baked goods. 5. Pald other operating expenses of $12,800 for Year 1 . 6. Recorded depreclation on the bakery equipment. The MACRS recovery perlod is five years. b. Record each transaction In a horlzontal statements model assuming the company uses the double-declining balance method of depreclation. Answer is not complete. Complete this question by entering your answers in the tabs below. Record each transaction in a horizontal statements model assuming the company uses the double-declining balance method of depreciation. account balances and cash outflows with a minus sign. Leave cells blank if no input is neededStep by Step Solution
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