question 16-1

income statement

comparative balance sheet part 1

part 2

requirements

Score: 0 of 5 pts 1 of 3 (0 complete) HW Score: 0%, 0 of 36 pts E16-23 (similar to) E Question Help mev Som Press Exercise Equipment, Inc reported the following financial statements for 2018 Click the icon to view the income statement. (Click the icon to view the comparative balance ut of sheet.) Read the requirements Requirement 1. Compute the amount of Press Exercise's acquisition of plant assets Press Exercise disposed of plant assets at book value The cost and accumulated depreciation of the disposed asset was $43 500 No cash was received upon disposal The acquisitions of plant assets amounts to 6-23 (similar to) Question Help ass Exercise Equipment, Inc. reported the following financial statements for 2018 (Click the icon to view the income statement (Click the icon to view the comparative balance 1 ad the reg Data Table quirement posed of pla 3.500 No ca Exercise ed asset Press Exercise Equipment Inc. Income Statement he acquisition 715.000 340.000 Year Ended December 31, 2018 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Depreciation Expense s 51 000 Other Operating Expenses 195,000 375 000 246 000 Total Operating Expenses 129.000 Net Income Print Done ter any number in the edit fields and then click Check Answer parts remaining Clear All Check Answer E16-23. similar to * Pres Spm Data Table ut of shes Regl dispo Press Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2018 and 2017 2018 $43 2017 Assets Thel Current Assets Cash Accounts Receivable Merchandise Inventory Long-term Assets Plant Assets Accumulated Depreciation - Plant Assets 18,000 $ 55.000 84.000 17,000 47.000 92.000 265 600 (42.600) 95 000 475,000 $ 222 100 (35,100) 81.000 424,000 Total Assets 5 Liabilities Current Liabilities Entel right 93 Score: 0 o 5 pts of 3 (0 complete) HW Score: 0%, 0 of 36 pts E16-23. (similar to Pres0 Data Table - X of shad Read Plant Assets Accumulated Depreciation-Plant Assets investments Regi dispd 265,600 (42.600) 95 000 475,000 $ 222 100 (35.100) 81 000 424,000 Total Assels Liabilities 74 000 $ 6,000 73,000 7.500 Current Liabilities Accounts Payable Saianes Payable Long-term Liabilities Notes Payable Total abilities 67.000 63.000 143 000 147.500 Stockholders' Equity Common Stock, no par Retained Earnings Total Stockholders' Equity 48,000 284 cod 332,000 475,000 $ 31000 245,500 276,500 424.000 Total Liabilities and Stockholders Equity $ Enter Print Done out of sheet: Read the requirements Requit dispos 543 50 Requirements ed as 0.000 eceive 1. Compute the amount of Press Exercises acquisition of plant assets, Assume the acquisition was for cash Press Exercise disposed of plant assets al book value the cost and accumulated depreciation of the disposed asset was $43 500 No cash was received upon disposal 2. Compute new borrowing or payment of long-term notes payable with Press Exercise having only one long term notes payable transaction during the year 3. Compute the issuance of common stock with Press Exercise having only one common stock transaction during the year 4. Compute the payment of cash dividends. Print Done Done Enter any number in the edit fields and then click Check Answer right 5. O 3 parts remaining Clear AB Check