Homework Answers
| Partial Statement of Cash Flows | |||
| For the Year Ended December 31, 2017 | |||
| Cash Flows from Operating Activities | |||
| Net Income | 39900 | ||
| Adjustments to reconcile net income to | |||
| Net Cash Provided by Operating Activities | |||
| Depreciation Expense | 16900 | ||
| Loss on Sale of Equipment | 5900 | ||
| 22800 | |||
| Net Cash Provided by Operating Activities | 62700 | ||
| Cash Flows from Investing Activities | |||
| Sale of Equipment | 25200 | =(56100-25000-5900) | |
| Cost of Equipment Constructed | -48000 | ||
| Major repairs on Equipment | -21000 | ||
| Purchase of Equipment | -61700 | ||
| Net Cash Used by Investing Activities | -105500 | ||
| Cash Flows from Financing Activities | |||
| Payment of Cash Dividends | -14800 | ||
| Net decrease in cash | -57600 | ||
| Cash at beginning of year | XXX | ||
| Cash at end of year | XXX |
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The accounts below appear in the ledger of Carla Company. Dr. Cr. Jan. 1, 2017 Aug....
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...
Exercise 23-19 The accounts below appear in the ledger of Flounder Company. Retained Earnings Dr. Cr....
Exercise 23-19 The accounts below appear in the ledger of Flounder Company. Retained Earnings Dr. Cr. Bal. Jan. 1, 2017 Credit Balance $15,200 Aug. 15 Dec. 31 Dividends (cash) Net Income for 2017 $41,900 26,700 66,700 Nel $40,000 Equipment Dr. Cr. Debit Balance Jan. 1, 2017 Aug. 3 Purchase of Equipment Cost of Equipment Constructed Equipment Sold $62,500 48,200 Bal. $139,400 201,900 250,100 194,500 Sept. 10 Nov. 15 $55,600 Dr. Cr. Bal. Accumulated Depreciation- Equipment Credit Balance Major Repairs Jan....
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...
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....
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...
The three accounts shown below appear in the general ledger of Herrick Corp. during 2017. From...
The three accounts shown below appear in the general ledger of
Herrick Corp. during 2017.
From 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 $4,100. (Hint: Cost
of equipment constructed is reported in the investing activities
section as a decrease in cash of $52,300.) (Show
amounts that decrease cash flow with either a - sign e.g. -15,000
or in parenthesis...
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...
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...
inment CALCULATOR FULL SCREEN PRINTER Exercise 13-6 The three accounts shown below appear in the general...
inment CALCULATOR FULL SCREEN PRINTER 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 68,820 52,720 Balance 160,230 229,050 281,770 232,210 49,560 Date Accumulated Depreciation-Equipment Debit Balance Accumulated depreciation on equipment sold 29,350 Depreciation for year mo Jan. 1 Nov. 10 Dec. 31 Credit Balance 69,990 40,640 70,170...
The net income for Carla Vista Co. for 2017 was $304,800. For 2017, depreciation on plant...
The net income for Carla Vista Co. for 2017 was $304,800. For 2017, depreciation on plant assets was $65,800, and the company incurred a loss on disposal of plant assets of $ 26,400 Compute net cash provided by operating activities under the indirect method, assuming there were no other changes in the company's accounts, (Show amounts that decrease cash flow with either a-sign eg-15,000 or in parenthesis es.(15,000J) Carla Vista Co. Statement of Cash Flows-Indirect Methood Adjustments to reconcile net...
Exercise 23-19 The accounts below appear in the ledger of Flounder Company. Retained Earnings Dr. Cr. Bal. Jan. 1, 2017 Credit Balance $15,200 Aug. 15 Dec. 31 Dividends (cash) Net Income for 2017 $41,900 26,700 66,700 Nel $40,000 Equipment Dr. Cr. Debit Balance Jan. 1, 2017 Aug. 3 Purchase of Equipment Cost of Equipment Constructed Equipment Sold $62,500 48,200 Bal. $139,400 201,900 250,100 194,500 Sept. 10 Nov. 15 $55,600 Dr. Cr. Bal. Accumulated Depreciation- Equipment Credit Balance Major Repairs Jan....
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...
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....
The three accounts shown below appear in the general ledger of
Herrick Corp. during 2017.
From 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 $4,100. (Hint: Cost
of equipment constructed is reported in the investing activities
section as a decrease in cash of $52,300.) (Show
amounts that decrease cash flow with either a - sign e.g. -15,000
or in parenthesis...
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...
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...
inment CALCULATOR FULL SCREEN PRINTER 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 68,820 52,720 Balance 160,230 229,050 281,770 232,210 49,560 Date Accumulated Depreciation-Equipment Debit Balance Accumulated depreciation on equipment sold 29,350 Depreciation for year mo Jan. 1 Nov. 10 Dec. 31 Credit Balance 69,990 40,640 70,170...
The net income for Carla Vista Co. for 2017 was $304,800. For 2017, depreciation on plant assets was $65,800, and the company incurred a loss on disposal of plant assets of $ 26,400 Compute net cash provided by operating activities under the indirect method, assuming there were no other changes in the company's accounts, (Show amounts that decrease cash flow with either a-sign eg-15,000 or in parenthesis es.(15,000J) Carla Vista Co. Statement of Cash Flows-Indirect Methood Adjustments to reconcile net...
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