no need for statement of changes in equity or balance sheet. just this. answer within the hour thanks!
2014 10 years Courtland Corp's property, plant and equipment subledger at January 1, 2014 appeared as follows: Cost Information Depreciation/Amortization Amort Accum. Balance Expense for Accum. Balance Description Purchase Date Method Cost Residual Life Dec. 31, 2013 Dec 31, 2014 Building September 1, 2011 S/L 243,300 15,300 10 years Furniture July 1, 2013 DDB 156,000 40,500 Trucks March 1, 2012 Units 302,000 10,000 1,168,000 km Boats January 1, 2012 S/L 53,400 6,600 6 years Machinery July 1, 2013 DDB 120,000 34,600 5 years Copyright May 1, 2010 54,000 0 5 years Equipment July 3, 2014 DDB 33,230 4,000 Machinery July 3, 2014 DDB 25,770 4,000 6 years SIL 3 years Additional information: Courtland Corp. calculates depreciation and amortization to the nearest month. S/L - Straight Line: DDB - Double-Declining Balance: Units Units of Production There have been no disposals, revisions, or impairments prior to January 1, 2014 Actual kilometers driven by the trucks: 2012 - 347,000; 2013 - 247,000; 2014 - 344,000 At the beginning of 2014, it was determined that the boats would be used for 1 year less than originally estimated Used equipment and machinery were purchased on July 3, 2014, for a total of $59,000 at a bankruptcy sale. The appraised value of the equipment was $49,000 and of the machinery $38,000. The old machinery was given to a charitable organization on July 6, 2014 The estimated useful lives and residual values of the July 3 purchases were 3 years and $4,000 for the equipment, and 6 years and $4,000 for the machinery. These assets will be depreciated using the DDB method Complete the PPE asset subledger, round depreciation per unit of production to the nearest cent; round your final answers to the nearest dollar Using the information from the PPE asset subledger and the following December 31, 2014 adjusted account balances, complete the income statement (showing all depreciation and amortization expenses together under expenses) and a statement of changes in equity for the year ended December 31, 2014 along with the December 31, 2014 classified balance sheet. Assume that the corporation issued $103,800 worth of shares during 2014 Account Accounts payable Bonds payable Cash Consulting revenue earned Dividends Income taxes expense Interest earned Interest expense Land Long-term investment in shares Loss on sale/disposal Mortgage payable Rent earned Retained earnings Share capital Supplies Unearned rent Balance 16,700 132,600 51,600 97,000 44,800 26,300 174,700 18,600 80,200 48,500 76,800 47,200 63,200 143,500 204,000 51,400 133,700 Courtland Corp. Income Statement For Year Ended December 31, 2014 Revenues Consulting Revenue Earned Rent Earned Interest Earned Total revenues Expenses Loss on Sale/Disposal Interest Expense Depreciation/Amortization Total expenses Income before tax Income taxes expense Net income 2014 10 years Courtland Corp's property, plant and equipment subledger at January 1, 2014 appeared as follows: Cost Information Depreciation/Amortization Amort Accum. Balance Expense for Accum. Balance Description Purchase Date Method Cost Residual Life Dec. 31, 2013 Dec 31, 2014 Building September 1, 2011 S/L 243,300 15,300 10 years Furniture July 1, 2013 DDB 156,000 40,500 Trucks March 1, 2012 Units 302,000 10,000 1,168,000 km Boats January 1, 2012 S/L 53,400 6,600 6 years Machinery July 1, 2013 DDB 120,000 34,600 5 years Copyright May 1, 2010 54,000 0 5 years Equipment July 3, 2014 DDB 33,230 4,000 Machinery July 3, 2014 DDB 25,770 4,000 6 years SIL 3 years Additional information: Courtland Corp. calculates depreciation and amortization to the nearest month. S/L - Straight Line: DDB - Double-Declining Balance: Units Units of Production There have been no disposals, revisions, or impairments prior to January 1, 2014 Actual kilometers driven by the trucks: 2012 - 347,000; 2013 - 247,000; 2014 - 344,000 At the beginning of 2014, it was determined that the boats would be used for 1 year less than originally estimated Used equipment and machinery were purchased on July 3, 2014, for a total of $59,000 at a bankruptcy sale. The appraised value of the equipment was $49,000 and of the machinery $38,000. The old machinery was given to a charitable organization on July 6, 2014 The estimated useful lives and residual values of the July 3 purchases were 3 years and $4,000 for the equipment, and 6 years and $4,000 for the machinery. These assets will be depreciated using the DDB method Complete the PPE asset subledger, round depreciation per unit of production to the nearest cent; round your final answers to the nearest dollar Using the information from the PPE asset subledger and the following December 31, 2014 adjusted account balances, complete the income statement (showing all depreciation and amortization expenses together under expenses) and a statement of changes in equity for the year ended December 31, 2014 along with the December 31, 2014 classified balance sheet. Assume that the corporation issued $103,800 worth of shares during 2014 Account Accounts payable Bonds payable Cash Consulting revenue earned Dividends Income taxes expense Interest earned Interest expense Land Long-term investment in shares Loss on sale/disposal Mortgage payable Rent earned Retained earnings Share capital Supplies Unearned rent Balance 16,700 132,600 51,600 97,000 44,800 26,300 174,700 18,600 80,200 48,500 76,800 47,200 63,200 143,500 204,000 51,400 133,700 Courtland Corp. Income Statement For Year Ended December 31, 2014 Revenues Consulting Revenue Earned Rent Earned Interest Earned Total revenues Expenses Loss on Sale/Disposal Interest Expense Depreciation/Amortization Total expenses Income before tax Income taxes expense Net income