The following events apply to Gulf Seafood for the Year fiscal year:
The company started when it acquired $ cash by issuing common stock.
Purchased a new cooktop that cost $ cash.
Earned $ in cash revenue.
Paid $ cash for salaries expense.
Adjusted the records to reflect the use of the cooktop. Purchased on January Year the cooktop has an expected useful life of four years and an estimated salvage value of $ Use straightline depreciation. The adjustment was made as of December Year
Required:
a Record the above transactions in a horizontal statements model.
Note: In the Statement of Cash Flows column, use the initials OA an investing activity IA a financing activity FA and net change in cash NC Enter any decreases to account balances and cash outflows with a minus sign. Not all cells require input.
tableGULF SEAFOODHorizontal Statements ModelEventBalance Sheet,Income Statement,tableStatement of CashFlowsAssetsStockholder's Equity,Revenue,Expense,Net IncomeCashtableEquipmentBVtableCommonStocktableRetainedEarnings
