Staub Company began operations when it acquired $135,000 cash from the issue of common stock on...

Staub Company began operations when it acquired $135,000 cash from the issue of common stock on January 1, 2013.

The cash acquired was immediately used to purchase equipment for $135,000

that had a $27,000 salvage value and an expected useful life of four years. The equipment was
used to produce the following revenue stream (assume all revenue transactions are for cash). At the

beginning of the fifth year, the equipment was sold for $13,500 cash.
Staub Company uses straight-line depreciation. Asssume depreciation is the only expense to record.

2013 2014 2015 2016 2017 Revenue $ 25,200 $ 27,600 $ 28,800 $ 23,400 0

REQUIRED

Prepare income statements, balance sheets, and statements of cash flows for each of the five years.

Expert Solution

ekkarill92 answered 1 year ago

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