critically understand the different components of the income statement knowing how to properly report treasury stocks operations understand the differences between income statement and statement of cash flow A+ Writers |

Attached is the Case Study. All the above questions have to be responded. In question 2 there has to be an explanation of the answer and in 3rd explaining the calculations.

Submission file format: Excel document with all the answers, clearly identifying all steps, results, journals and including comments besides each answer.

1. Calculate the depreciation expense of the cars and trucks of the company for the year 2019. Explain your answers as well as the differences between the two methods used by the company, and how the new method of depreciation decided by the accountant will affect the net income of the company for the year 2019, and over the total useful life of the assets.

2. Prepare the journal entries for the acquisition of the treasury stocks. Explain your answer.

3. Prepare a detailed income statement of the company showing the earning per share figure for each element of the Income statement. Explain your calculation.
Very Important

4.Prepare a statement of cash flow for each one of the three sections (operating, investing and financing activities) for the year 2019 using the direct method and calculate the cash balance at 31stof December