Golden manufacturing company started operations by acquiring $150,000 cash from the issue of common stock. on january 1, 2016, the company purchased equipment that cost $120,000 cash, had an expected useful life of six years, and had an estimated salvage value of $4,000. golden manufacturing earned $72,000 and $83,000 of cash revenue during 2016 and 2017, respectively. golden manufacturing uses double-declining-balance depreciation.

question: prepare income statements, balance sheets, and statements of cash flows for 2016 and 2017. use a vertical statements format. (hint: record the events in t-accounts prior to preparing the statements.)

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Match the type of agreements to their descriptions. will trust living will prenuptial agreement

Lynch company manufactures and sells a single product. the following costs were incurred during the company’s first year of operations: variable costs per unit: manufacturing: direct materials $ 12 direct labor $ 6 variable manufacturing overhead $ 1 variable selling and administrative $ 1 fixed costs per year: fixed manufacturing overhead $ 308,000 fixed selling and administrative $ 218,000 during the year, the company produced 28,000 units and sold 15,000 units. the selling price of the company’s product is $56 per unit. required: 1. assume that the company uses absorption costing: a. compute the unit product cost. b. prepare an income statement for the year. 2. assume that the company uses variable costing: a. compute the unit product cost. b. prepare an income statement for the year.