Zachary company began operations on janury 1, year 1, by issuing common stock for 34000...
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Accounting
Zachary company began operations on janury 1, year 1, by issuing common stock for 34000 cash. During year 1, zachary received 48000 cash from revenue and incurred costs that required 36,000 of cash payments.
Prepare GAAP-based statement and balanced sheet for zachary company for year 1 under each of the following independent scenarios.
b: Zachary is in the car rental business. The 36,000 was paid to purchase automobiles. The automobiles were purchased on January 1, year 1, and have three year useful liuves, with no expected salvage value. Zachary uses strait line depreciation. The review was generated by leasing the automobiles.
Complete this question by entering your answer in the tabs below.
- Income Statement
- Balance Sheet
Prepare a balance sheet. (Amounts to be deducted should be indicated with a minus sign.)
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Complete this question by entering your answer in the tabs below.
- Income Statement
- Balance Sheet
Prepare an Income Statement.
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