Data for Harvey Company are presented in E23-18B. In E23-18B, the accounts below appear in the ledger
Question:
In E23-18B, the accounts below appear in the ledger of Harvey Company.
Instructions
Prepare entries in journal form for all adjustments that should be made on a worksheet for a statement of cashflows.
Transcribed Image Text:
Retained Earnings Dr Cr. Bal Jan. 1, 2014 Credit Balance Dec 1 Dec. 31 Declare and pay dividends Net Income for 2012 $140,000 100,000 $40,000 $82,600 182,600 Machinery Dr. Cr. Bal Jan. 1, 2014 Debit Balance Mar. 31 Sept. 25 $740,000 896,000 $156,000 Purchase of Machinery Machinery Sold Accumulated Depreciation $202,000 694,000 Machinery Dr Cr Bal Jan. 1, 2014 Credit Balance June 18 Sept. 25 Extraordinary Repairs Accum. Depreciation on $264,000 208,000 $56,000 Machinery Sold Depreciation for 2012 60,000 148,000 Dec. 31 $82,500 230,500
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Retained Earnings 40000 FinancingCash Dividends 40000 OperatingNet Income 82600 Retained Earnings 8...View the full answer
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Related Book For
Intermediate Accounting
ISBN: 978-1118147290
15th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield
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