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Exercise 23-19 The accounts below appear in the ledger of Flounder Company. Retained Earnings Dr. Cr....
The accounts below appear in the ledger of Concord Company. Retained Earnings Dr. Cr. Bal. Jan....
The accounts below appear in the ledger of Concord Company. Retained Earnings Dr. Cr. Bal. Jan. 1, 2017 Credit Balance $41,900 Aug. 15 Dividends (cash) $15,100 26,800 Dec. 31 Net Income for 2017 $40,300 67,100 Equipment Dr. Cr. Bal. Jan. 1, 2017 Debit Balance $141,000 Aug. 3 Purchase of Equipment $62,500 203,500 Sept. 10 Cost of Equipment Constructed 48,500 252,000 Nov. 15 Equipment Sold $55,800 196,200 Accumulated Depreciation—Equipment Dr. Cr. Bal. Jan. 1, 2017 Credit Balance $83,200 Apr. 8 Major...
The accounts below appear in the ledger of Carla Company. Dr. Cr. Jan. 1, 2017 Aug....
The accounts below appear in the ledger of Carla Company. Dr. Cr. Jan. 1, 2017 Aug. 15 Dec. 31 Retained Earnings Credit Balance Dividends (cash) Net Income for 2017 Bal. $41,700 26,900 66,800 $14,800 $39,900 Dr. Cr. Bal. Jan 1, 2017 Aug. 3 Sept. 10 Nov. 15 Equipment Debit Balance Purchase of Equipment Cost of Equipment Constructed Equipment Sold $61,700 48,000 $139,900 201,600 249,600 193,500 $56,100 Cr. Bal. Jan 1, 2017 Accumulated Depreciation- Equipment Credit Balance Major Repairs Accum. Depreciation...
The three accounts shown below appear in the general ledger of Herrick Corp. during 2015.
The three accounts shown below appear in the general ledger of Herrick Corp. during 2015.EquipmentDateDebitCreditBalanceJan. 1Balance161,660July 31Purchase of equipment69,340231,000Sept. 2Cost of equipment constructed54,890285,890Nov. 10Cost of equipment sold50,150235,740Accumulated Depreciation—EquipmentDateDebitCreditBalanceJan. 1Balance71,910Nov. 10Accumulated depreciation on equipment sold28,02043,890Dec. 31Depreciation for year28,96072,850Retained EarningsDateDebitCreditBalanceJan. 1Balance104,720Aug. 23Dividends (cash)13,05091,670Dec. 31Net income78,860170,530From the postings in the accounts, indicate how the information is reported on a statement of cash flows using the indirect method. The loss on disposal of equipment was $4,520. (Hint: Cost of equipment constructed is reported in the...
Exercise 13-6 The three accounts shown below appear in the general ledger of Herrick Corp. during...
Exercise 13-6 The three accounts shown below appear in the general ledger of Herrick Corp. during 2015. Equipment Debit Credit Date Jan. 1 July 31 Sept. 2 Nov. 10 Balance Purchase of equipment Cost of equipment constructed Cost of equipment sold 68,580 53,070 Balance 160,810 229,390 282,460 234,050 48,410 Credit Date Jan. 1 Nov. 10 Dec. 31 Accumulated Depreciation Equipment Debit Balance Accumulated depreciation on equipment sold 31,430 Depreciation for year Balance 70,330 38,900 66,640 27,740 Retained Earnings Debit Credit...
The following three accounts appear in the general ledger of Herrick Corp. during 2020. Equipment Date...
The following three accounts appear in the general ledger of Herrick Corp. during 2020. Equipment Date Debit Credit Balance Jan. 1 Balance 158,400 July 31 Purchase of equipment 70,200 228,600 Sept. 2 Cost of equipment constructed 54,800 283,400 Nov. 10 Cost of equipment sold 49,100 234,300 Accumulated Depreciation—Equipment Date Debit Credit Balance Jan. 1 Balance 71,100 Nov. 10 Accumulated depreciation on equipment sold 28,700 42,400 Dec. 31 Depreciation for year 23,700 66,100 Retained Earnings Date Debit Credit Balance Jan. 1...
all of 17.7 please E17.7 (LO 2) The following three accounts appear in the general ledger...
all
of 17.7 please
E17.7 (LO 2) The following three accounts appear in the general ledger of Herrick Corp. during 2020. Prepare partial statement of cash flows-indirect method. Credit Date Jan. 1 July 31 Balance 160,000 230,000 Equipment Debit Balance Purchase 70,000 of equipment Cost of 53,000 equipment constructed Cost of equipment sold Sept. 2 283,000 Nov. 10 49,000 234,000 Accumulated Depreciation-Equipment Accumulated Depreciation Equipment Date Debit Credit Jan. 1 Nov. 10 Balance 71,000 41,000 30,000 Balance Accumulated depreciation on...
CE Dr. Cr. Cash Dr. $11,000 14,000 $9,600 21,000 $2,400 $3,500 21,000 36,000 14,700 23,000 Accounts...
CE Dr. Cr. Cash Dr. $11,000 14,000 $9,600 21,000 $2,400 $3,500 21,000 36,000 14,700 23,000 Accounts receivable Allowance for doubtful accounts Inventory Equipment Accumulated depreciation-equipment Notes payable Accounts payable Sorensen, capital Lucas, capital 19,200 14,400 17,600 28,400 8,800 12,000 24,800 $82,000 $82,000 19,200 $68,300 $68,300 Sorensen and Lucas decide to form a partnership, Ivanhoe Company, with the following agreed upon valuations for noncash assets. Accounts receivable Allowance for doubtful accounts Inventory Equipment Sorensen Company $14,000 3,600 22,400 20,000 Lucas Company...
Question 2 The following three accounts appear in the general ledger of Herrick Corp. during 2020....
Question 2 The following three accounts appear in the general ledger of Herrick Corp. during 2020. Equipment Debit Credit Date Jan. 1 July 31 Sept. 2 Nov. 10 Balance Purchase of equipment Cost of equipment constructed Cost of equipment sold 71,900 55,000 Balance 160,000 231,900 286,900 238,700 48,200 Credit Date Jan. 1 Nov. 10 Dec. 31 Accumulated Depreciation-Equipment Debit Balance Accumulated depreciation on equipment sold 30,700 Depreciation for year Balance 70,100 39,400 64,400 25,000 Retained Earnings Debit Credit Date Jan....
shown below are the t-accounts relating to equipment that was purchased for cash by a company...
shown below are the t-accounts relating to equipment that was
purchased for cash by a company on the first day of the current
year. The equipment was depreciated on a straight-line basis with
an estimated useful life of 10 years and a salvage value of $90.
Part of the equipment was sold on the last day of the current year
for cash proceeds.
Cash Jan. 1 (a) 446 Dec. 31 Equipment Jan. 1 1,150 Dec. 31 426 Accumulated Depreciation-Equipment Dec....
The following three accounts appear in the general ledger of Ivanhoe Company during 2022. Equipment Date...
The following three accounts appear in the general ledger of Ivanhoe Company during 2022. Equipment Date Debit Credit Balance Jan. 1 Balance 104,000 July 31 Purchase of equipment 45,500 149,500 Sept. 2 Cost of equipment constructed 34,450 183,950 Nov. 10 Cost of equipment sold 31,850 152,100 Credit Date Jan. 1 Nov. 10 Dec. 31 Accumulated Depreciation-Equipment Debit Balance Accumulated depreciation on equipment sold 10,400 Depreciation for year Balance 46,150 35,750 53,950 Retained Earnings Debit Credit Date Jan. 1 Aug. 23...
The accounts below appear in the ledger of Carla Company. Dr. Cr. Jan. 1, 2017 Aug. 15 Dec. 31 Retained Earnings Credit Balance Dividends (cash) Net Income for 2017 Bal. $41,700 26,900 66,800 $14,800 $39,900 Dr. Cr. Bal. Jan 1, 2017 Aug. 3 Sept. 10 Nov. 15 Equipment Debit Balance Purchase of Equipment Cost of Equipment Constructed Equipment Sold $61,700 48,000 $139,900 201,600 249,600 193,500 $56,100 Cr. Bal. Jan 1, 2017 Accumulated Depreciation- Equipment Credit Balance Major Repairs Accum. Depreciation...
Exercise 13-6 The three accounts shown below appear in the general ledger of Herrick Corp. during 2015. Equipment Debit Credit Date Jan. 1 July 31 Sept. 2 Nov. 10 Balance Purchase of equipment Cost of equipment constructed Cost of equipment sold 68,580 53,070 Balance 160,810 229,390 282,460 234,050 48,410 Credit Date Jan. 1 Nov. 10 Dec. 31 Accumulated Depreciation Equipment Debit Balance Accumulated depreciation on equipment sold 31,430 Depreciation for year Balance 70,330 38,900 66,640 27,740 Retained Earnings Debit Credit...
all
of 17.7 please
E17.7 (LO 2) The following three accounts appear in the general ledger of Herrick Corp. during 2020. Prepare partial statement of cash flows-indirect method. Credit Date Jan. 1 July 31 Balance 160,000 230,000 Equipment Debit Balance Purchase 70,000 of equipment Cost of 53,000 equipment constructed Cost of equipment sold Sept. 2 283,000 Nov. 10 49,000 234,000 Accumulated Depreciation-Equipment Accumulated Depreciation Equipment Date Debit Credit Jan. 1 Nov. 10 Balance 71,000 41,000 30,000 Balance Accumulated depreciation on...
CE Dr. Cr. Cash Dr. $11,000 14,000 $9,600 21,000 $2,400 $3,500 21,000 36,000 14,700 23,000 Accounts receivable Allowance for doubtful accounts Inventory Equipment Accumulated depreciation-equipment Notes payable Accounts payable Sorensen, capital Lucas, capital 19,200 14,400 17,600 28,400 8,800 12,000 24,800 $82,000 $82,000 19,200 $68,300 $68,300 Sorensen and Lucas decide to form a partnership, Ivanhoe Company, with the following agreed upon valuations for noncash assets. Accounts receivable Allowance for doubtful accounts Inventory Equipment Sorensen Company $14,000 3,600 22,400 20,000 Lucas Company...
Question 2 The following three accounts appear in the general ledger of Herrick Corp. during 2020. Equipment Debit Credit Date Jan. 1 July 31 Sept. 2 Nov. 10 Balance Purchase of equipment Cost of equipment constructed Cost of equipment sold 71,900 55,000 Balance 160,000 231,900 286,900 238,700 48,200 Credit Date Jan. 1 Nov. 10 Dec. 31 Accumulated Depreciation-Equipment Debit Balance Accumulated depreciation on equipment sold 30,700 Depreciation for year Balance 70,100 39,400 64,400 25,000 Retained Earnings Debit Credit Date Jan....
shown below are the t-accounts relating to equipment that was
purchased for cash by a company on the first day of the current
year. The equipment was depreciated on a straight-line basis with
an estimated useful life of 10 years and a salvage value of $90.
Part of the equipment was sold on the last day of the current year
for cash proceeds.
Cash Jan. 1 (a) 446 Dec. 31 Equipment Jan. 1 1,150 Dec. 31 426 Accumulated Depreciation-Equipment Dec....
The following three accounts appear in the general ledger of Ivanhoe Company during 2022. Equipment Date Debit Credit Balance Jan. 1 Balance 104,000 July 31 Purchase of equipment 45,500 149,500 Sept. 2 Cost of equipment constructed 34,450 183,950 Nov. 10 Cost of equipment sold 31,850 152,100 Credit Date Jan. 1 Nov. 10 Dec. 31 Accumulated Depreciation-Equipment Debit Balance Accumulated depreciation on equipment sold 10,400 Depreciation for year Balance 46,150 35,750 53,950 Retained Earnings Debit Credit Date Jan. 1 Aug. 23...
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