blake weaver cullumber enterprises controller is preparing the financial statements for 2016 he has completed the comparative balance sheets and income statement which follow and has gathered this additional information

/in /by

problem 13-24

Blake Weaver, Cullumber Enterprises’ controller, is preparing the financial statements for 2016. He has completed the comparative balance sheets and income statement, which follow, and has gathered this additional information:

• On December 31, 2016, Cullumber sold a piece of equipment with an original cost of $25,520 for $30,890 cash. The equipment had a book value of $13,960.
• On February 1, 2016, Cullumber issued $108,140 of common stock to raise cash in anticipation of the purchase of a new building later in the year.
• On February 2, 2016, Cullumber took out a ten-year $76,000 long-term loan to provide the remaining funds needed to purchase the building.
• On May 15, 2016, Cullumber paid $147,060 for the new building.
• The company repaid $4,970 of the long-term debt before the end of the year.
 
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code "Newclient" for a 15% Discount!

NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.