Question: Indicate in general journal form how the following items would be entered in a work sheet to prepare the statement of cash flows. (a) Net

Indicate in general journal form how the following items would be entered in a work sheet to prepare the statement of cash flows.
(a) Net income is $207,000.
(b) Cash dividends declared (charged to retained earnings) and paid totalled $60,000.
(c) Equipment was purchased for $114,000.
(d) Equipment that originally cost $40,000 and had accumulated depreciation of $32,000 was sold for $13,000.

Step by Step Solution

★★★★★

3.35 Rating (164 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a Operating x Net Income 207000 Retained Earnings 207000 b Retained Ea... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

516-B-A-B-S-C-F (1449).docx

120 KBs Word File

Students Have Also Explored These Related Accounting Questions!

To prepare its statement of cash flows for the year ended December 31, 2010, Sweet Confections, Inc., gathered the following information: Gain on sale of land .............. $ 25,000 Proceeds from...

To prepare its statement of cash flows for the year ended June 30, 2011, Glavine Sports Products, Inc., gathered the following information: Loss on sale of automobile ........... $ 5,000 Proceeds...

To prepare its statement of cash flows for the year ended December 31, 2012, McKinney Carterette Cataloging Specialists, Inc., gathered the following information: Dividends paid ............... $...

Indicate in general journal form how the following items would be entered in a work sheet to prepare the statement of cash flows where payments for dividends are classified as financing activities....

Intermediate Accounting 13th edition Kieso Weygandt Warfield Chapter 23 Statement of Cash Flows. I have attached 3 questions and cut and pasted them here too. The following accounts increased during...

please help me complete the following worksheets: general journal, General ledger, trial balance, income statement, changes in stockholders equity, balance sheet, statement of cash flows, Analysis...

Josh and Kelly McKay began operations of their furniture repair shop (Furniture Refinishers, Inc.) on January 1, 2016. The annual reporting period ends December 31. The trial balance on January 1,...

7 Part 7 of 7 5.74 points Skipped eBook Print References Colton Enterprises experienced the following events for Year 1, the first year of operation: 1. Acquired $43,000 cash from the issue of common...

Indicate in general journal form how the items below would be entered in a worksheet for the preparation of the statement of cash flows. (a) Net income is $540,000. (b) Cash dividends declared, but...

A double-concave lens of index of refraction 1.45 has radii of magnitudes 30 cm and 25 cm. An object is located 80 cm to the left of the lens. Find, (a) The focal length of the lens, (b) The location...

Write equations for the alpha decay of the following isotopes: a) 21286Rn b) 24195Am

Krell Industries has a share price of $ 2 2 . 4 5 $ 2 2 . 4 5 today. If Krell is expected to pay a dividend of $ 0 . 7 8 $ 0 . 7 8 this year, and its stock price is expected to grow to $ 2 4 . 8 1 $...

List seven techniques for making ethical decisions across borders. (Obj. 6)

Swarten Corporation issued 600 shares of no-par common stock for $8,200. Prepare Swartens journal entry if (a) The stock has no stated value, and (b) The stock has a stated value of $2 per share.

The annual interest rate on a credit card is 16.99%. If a payment of $300.00 is made each month, how many months will it take to pay off an unpaid balance of $2,316.77? Assume that no new purchases...

The owner of Maumee Ford-Mercury-Volvo wants to study the relationship between the age of a car and its selling price. Listed below is a random sample of 12 used cars sold at the dealership during...

Your landscaping company can lease a truck for $8,200 a year for 5 years. It can instead buy the truck for $35,000. The truck will be valueless after 5 years. a. What is the present value of the...