Morris Inc. recorded the following transactions over the life of a piece of equipment purchased in Year 1 : Required a. Use a horizontal statements model to show the effects of these transactions on the elements of the financial statements. The first event is recorded as an example. b. Determine the amount of depreciation expense to be reported on the income statements for Years 1 through 5. c. Determine the book value (cost - accumulated depreciation) Morris will report on the balance sheets at the end of Year 1 through Year 5. d. Determine the amount of the gain or loss Morris will report on the disposal of the equipment on October 1 , Year 6 . Complete this question by entering your answers in the tabs below. Use a horizontal statements model to show the effects of these transactions on the elements of the financial statements. The first event is recorded as an example. (Use + for increase, - for decrease, and leave the cell blank if the element is not affected. In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (IA), or a financing activity (FA). If an element was not affected by the transactions, leave the cell blank.) Morris Inc. recorded the following transactions over the life of a piece of equipment purchased in Year 1: Required a. Use a horizontal statements model to show the effects of these transactions on the elements of the financial statements. The firs event is recorded as an example. b. Determine the amount of depreciation expense to be reported on the income statements for Years 1 through 5. c. Determine the book value (cost - accumulated depreciation) Morris will report on the balance sheets at the end of Year 1 through Year 5. d. Determine the amount of the gain or loss Morris will report on the disposal of the equipment on October 1 , Year 6. Complete this question by entering your answers in the tabs below. Determine the amount of depreciation expense to be reported on the income statements for Years 1 through 5. (Round your answers to nearest dollar amount.) Morris Inc. recorded the following transactions over the life of a piece of equipment purchased in Year 1 : Required . Use a horizontal statements model to show the effects of these transactions on the elements of the financial statements. The first event is recorded as an example. . Determine the amount of depreciation expense to be reported on the income statements for Years 1 through 5. c. Determine the book value (cost - accumulated depreciation) Morris will report on the balance sheets at the end of Year 1 through Year 5. d. Determine the amount of the gain or loss Morris will report on the disposal of the equipment on October 1 , Year 6. Complete this question by entering your answers in the tabs below. Determine the book value (cost - accumulated depreciation) Morris will report on the balance sheets at the end of Year 1 through Year 5. (Round intermediate calculations and final answers to nearest dollar amount.) Morris Inc. recorded the following transactions over the life of a piece of equipment purchased in Year 1: Required a. Use a horizontal statements model to show the effects of these transactions on the elements of the financial statements. The first event is recorded as an example. b. Determine the amount of depreciation expense to be reported on the income statements for Years 1 through 5. c. Determine the book value (cost - accumulated depreciation) Morris will report on the balance sheets at the end of Year 1 through Year 5. d. Determine the amount of the gain or loss Morris will report on the disposal of the equipment on October 1 , Year 6. Complete this question by entering your answers in the tabs below. Determine the amount of the gain or loss Morris will report on the disposal of the equipment on October 1 , Year 6 . (Round intermediate calculations and final answer to nearest dollar amount.)
