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last slide is the statement of cash flows for the year ended in December 31 Required information [The following information applies to the questions displayed
last slide is the statement of cash flows for the year ended in December 31
Required information [The following information applies to the questions displayed below] Doyle Company issued $440,000 of 10 -year, 8 percent bonds on January 1, Year 2 . The bonds were issued at face value. Interest is payable in cash on December 31 of each year. Doyle immediately invested the proceeds from the bond issue in land. The land was leased for an annual $54,000 of cash revenue, which was collected on December 31 of each year, beginning December 31, Year 2 Required a. Organize the trantaction dats in accounts under the accounting equation for Year 2 and Year 3 . Note: Enter any decreases to occount balances with a minus sign. Not all cells in the "Account Titles for Retained Earnings" column may require an input - lesve cells blenk if there is no corresponding input needed. DOYLE COMPANY Elfect of Events on the Accounting Equation Year 2 and Year 3 D. Prepare the income statement, balance sheet, and statement of cash flows for Year 2 and Year 3 . Complete this question by entering your answers in the tabs below. Prepare the income statement for Year 2 and Year 3. Balance Sheet As of December 31 Step by Step Solution
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