Problem 8-28A (Algo) Accounting for depreciation over multiple accounting cycles: straight-line depreciation LO...
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Problem A Algo Accounting for depreciation over multiple accounting cycles: straightline depreciation LO Bensen Company started business by acquiring $ cash from the issue of common stock on January Year The cash acquired was immediately used to purchase equipment for $ that had a $ salvage value and an expected useful life of four years. The equipment was used to produce the following revenue stream assume that all revenue transactions are for cash At the beginning of the fifth year, the equipment was sold for $ cash. Bensen uses straightline depreciation. Required Prepare income statements, statements of changes in stockholders' equity, balance sheets, and statements of cash flows for each of the five years. Complete this question by entering your answers in the tabs below. Income Statement Statement of Changes in Stockholders Statement of Cash Flows Prepare income statements for each of the five years. 
Problem A Algo Accounting for depreciation over multiple accounting cycles: straightline
depreciation LO
Bensen Company started business by acquiring $ cash from the issue of common stock on January Year The cash acquired
was immediately used to purchase equipment for $ that had a $ salvage value and an expected useful life of four years.
The equipment was used to produce the following revenue stream assume that all revenue transactions are for cash At the
beginning of the fifth year, the equipment was sold for $ cash. Bensen uses straightline depreciation.
Required
Prepare income statements, statements of changes in stockholders' equity, balance sheets, and statements of cash flows for each of
the five years.
Complete this question by entering your answers in the tabs below.
Income
Statement
Statement of
Changes in
Stockholders
Statement of
Cash Flows
Prepare income statements for each of the five years.
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