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(Solved): Data table December 31,2024 and 2023 isitions of Requirements 1. Compute the amount of Superior ...






Data table
December 31,2024 and 2023
isitions of
Requirements
1. Compute the amount of Superior Exercises acquisition of plant assets. Assume the acquisition was for cash. S
Data table December 31,2024 and 2023 isitions of Requirements 1. Compute the amount of Superior Exercise's acquisition of plant assets. Assume the acquisition was for cash. Superior Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was \( \$ 42,100 \). No cash was received upon disposal. 2. Compute new borrowing or payment of long-term notes payable, with Superior Exercise having only one long-term notes payable transaction during the year. 3. Compute the issuance of common stock with Superior Exercise having only one common stock transaction during the year. 4. Compute the payment of cash dividends.


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Solution: 1) Amount of Acquisitions of Plant Assets ;- = Closing Balance - (Operating Balance - Disposal of Plant Assets) = $263,300 - ($218,400 -$42,100
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