Save &Exit Submit Help Saved Ch. 6 Homework Check my work 6 Golden Manufacturing Company started operations by acquiring $117,000 cash from the issue of common stock. On January 1, 2018, the company purchased equipment that cost $107,000 cash, had an expected useful life of five years, and had an estimated salvage value of $10,700. Golden Manufacturing earned $93,580 and $67,670 of cash revenue during 2018 and 2019, respectively. Golden Manufacturing uses double-declining-balance depreciation. 0.83 points Required a. Record the purchase in a horizontal statements model. eBook b-1. Prepare an income statements for 2018 and 2019. Use a vertical statements format Print References b-2. Prepare a balance sheets for 2018 and 2019. Use a vertical statements format al statements format b-3. Prepare a statements of cash flows for 2018 and 2019. Use a vertic Complete this question by entering your answers in the tabs below. Req 82 Bal Sheet Rea 83 Stmt Reg B1 Inc Semt Req A Cash Record the purchase in a horizontal statements model. (In the Cash Flow column, indicate whether the item is an operating activity (OA), an inves cash (NC). If the element is not affected by the event, leave the cell blank. Enter any decreases to account balances and cash outflows with a min final answers to nearest dollar amount.) GOLDEN MANUFACTURING COMPANY Horizontal Statements Model Income Statement Balance Sheet Statemer Flo Assets Equity Event Net Income Accumulated Depreciation Revenue Expense Common Stock Retained Cash Equipment Earnings 2018 Issue stock 117.000 117,000 117,000 Purchase equipment (107.000) (107.000)+ 107,000 Revenue 93.580 93.580 93,580 93,580 93.580 + Depreciation expense + 93,580 117.000 103,580 Balance 103,580 107,000 93,580 93,580 2019 Beg. bal. Revenue Depreciation expense 0 C 0 0 0 0 End, bal. 0 + R A Req B1 Inc Stmt GOLDEN MANUFACTURING COMPANY Horizontal Statements Model Income Statement Balance Sheet Statement of Cash Flows Equity Assets Net Income Expense Revenue vent Retained Accumulated Common Stock Equipment Cash Depreciation Earnings 117.000 FA 117,000+ 117,000 k (107.000) A (107,000)+ 107,000 equipment 93,580 OA 93,580 93,580 93,580 93,580 on expense 103,580 NC 93.580 93,580 117.000 + 93,580 0 103,580 C 107,000 OA on expense- o NC 0 0 0 + 0 0 0- Reg B1 Inc Stmt Prepare an income statements for 2018 and 2019. Use a vertical statements format. (Do not round intermediate calculations. Round the final answers to nearest dollar amount.) GOLDEN MANUFACTURING COMPANY Income Statements For the Year Ended December 31 2018 2019 Req B2 Bal Sheet> Req A Req B2 Bal Sheet Req B3 Stmt Cash Req B1 Inc Stmt Req A Prepare a balance sheets for 2018 and 2019. Use a vertical statements format Round the final answers to nearest dollar amount.) GOLDEN MANUFACTURING COMPANY Balance Sheets As of December 31 2018 2019 Assets $ $ Total Assets 0 Stockholders' equity 0 $ Total stockholders' equity Req B3 Stmt C Req A Req B2 Bal Sheet Req B3 Stmt Cash Req B1 Inc Stmt Req A Prepare a balance sheets for 2018 and 2019. Use a vertical statements format Round the final answers to nearest dollar amount.) GOLDEN MANUFACTURING COMPANY Balance Sheets As of December 31 2018 2019 Assets $ $ Total Assets 0 Stockholders' equity 0 $ Total stockholders' equity Req B3 Stmt C
