Brief Exercise Worksheet Approach
Objective Example
During X Evans Company had the following transactions:
a Cash dividends of $ were paid.
b Equipment was sold for $ It had an original cost of $ and a book value of $ The loss is included in operating expenses.
c Land with a fair market value of $ was acquired by issuing common stock with a par value of $
d One thousand shares of preferred stock no par were sold for $ per share.
Evans provided the following income statement for X and comparative balance sheets:
Sales
Cost of goods sold
Gross margin
Operating expenses
Net income
table$
tabletableEvans CompanyComparative Balance SheetsFor the Year Ended December X and X X X AssetsCash$$
