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Please help with all the requirements on this question. Thank you! W E14-23 (similar to) o Data Table - X Help Ryle Exercise Equipment, Inc.
Please help with all the requirements on this question. Thank you!
W E14-23 (similar to) o Data Table - X Help Ryle Exercise Equipment, Inc. reported the following financial statements for 2018: 5 Click the icon to view the income statement.) Click the icon to view the comparative balance sheet.) Read the requirements December 31, 2018 and 2017 2018 2017 Requirement 1. Compute the amount of Ryle Exercise's acquisition of plant assets. Ryle Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $46,800. No Assets Current Assets The acquisitions of plant assets amounts to $ 93.000 Cash $ 19,000 $ 14,000 Requirement 2. Compute new borrowing or payment of long-term notes payable, with Ryle Exercise having only one long-term notes payable transaction during the year. 51,000 49,000 89,000 88,000 The of long-term notes payable is $ Accounts Receivable Merchandise Inventory Long-term Assets Plant Assets Accumulated DepreciationPlant Assets 218,100 264,300 (35,300) 98,000 Data Table - X (35,100) 74,000 Requirements Investments $ Total Assets 486,000 $ 408,000 Liabilities Current Liabilities: Ryle Exercise Equipment, Inc. Income Statement Year Ended December 31, 2018 Net Sales Revenue $ 80,000 $ 73,000 1. Compute the amount of Ryle Exercise's acquisition of plant assets. Assume the acquisition was for cash. Ryle Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $46,800. No cash was received upon disposal. 2. Compute new borrowing or payment of long-term notes payable, with Ryle Exercise having only one long-term notes payable transaction during the year. 3. Compute the issuance of common stock with Ryle Exercise having only one common stock transaction during the year. 4. Compute the payment of cash dividends. EA 2,500 6,500 712,000 348.000 Cost of Goods Sold Gross Profit Accounts Payable Salaries Payable Long-term Liabilities: Notes Payable Total Liabilities 364.000 57,000 67,000 139,500 146,500 $ Stockholders' Equity Operating Expenses: Depreciation Expense Other Operating Expenses Total Operating Expenses 47,000 195,000 Print Done Common Stock, no par 48,000 298,500 37,000 224,500 242.000 Retained Earnings Total Stockholders' Equity $ 122.000 346,500 261,500 Net Income $ Total Liabilities and Stockholders' Equity 486,000 $ 408,000 Print Done Print Done Choose from any list or enter any number in the input fields and then click CheckStep by Step Solution
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