The three accounts shown below appear in the general ledger of Cesar Corp. during 2010. InstructionsFrom the
Question:
The three accounts shown below appear in the general ledger of Cesar Corp. during 2010.
InstructionsFrom the postings in the accounts, indicate how the information is reported on a statement of cash flows using the indirect method. The loss on sale of equipment was$5,000.
Transcribed Image Text:
Equipment Date Debit Credit Balance Jan. 1. Balance 160,000 July 31 Sept. 2 Purchase of equipment Cost of equipment constructed Cost of equipment sold 70,000 53,000 230,000 283,000 234,000 Nov. 10 49,000 Accumulated Depreciation-Equipment Date Debit Credit Balance Jan. Balance 71,000 Nov. 10 Accumulated depreciation on equipment sold Depreciation for year 30,000 41,000 Dec. 31 28,000 69,000 Retained Earnings Credit Date Debit Balance Jan. 1 Balance 105,000 Aug. 23 Dec. 31 Dividends (cash) Net income 14,000 91,000 158,000 67,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 85% (14 reviews)
CESAR CORP Partial Statement of Cash Flows For the Year Ended December 31 20...View the full answer
Answered By
Pushpinder Singh
Currently, I am PhD scholar with Indian Statistical problem, working in applied statistics and real life data problems. I have done several projects in Statistics especially Time Series data analysis, Regression Techniques.
I am Master in Statistics from Indian Institute of Technology, Kanpur.
I have been teaching students for various University entrance exams and passing grades in Graduation and Post-Graduation.I have expertise in solving problems in Statistics for more than 2 years now.I am a subject expert in Statistics with Assignmentpedia.com.
4.40+
3+ Reviews
10+ Question Solved
Related Book For
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted:
Students also viewed these Accounting questions
-
Shelley Beach Ltd has one cash generating unit (CGU)and it has been determined that the CGU has incurred an impairment loss of $80 000 for the year ended 30 June 2012. The carrying amounts of the...
-
The three accounts shown below appear in the general ledger of Herrick Corp. during 2017 Instructions From the postings in the accounts, indicate how the information is reported on a statement of...
-
The three accounts shown below appear in the general ledger of Chaudry NV during 2017. Instructions From the postings in the accounts, indicate how the information is reported on a statement of cash...
-
What is the main difference between n-type and p-type semiconductors?
-
A data set with roughly a bell-shaped distribution has mean 45 and standard deviation 12. Approximately what percentage of the observations lie between 33 and 57?
-
For any n , define the language Bn={akk is a multiple of n} over the alphabet {a,b} . Give a DFA for B5 . Make sure your automaton has a transition from each state, labeled by each letter (a or b )....
-
A Map of All Americans! Visualization can often be an effective way to make sense of very large datasets. The Census Dot Map at http://demogra phics.coopercenter.org/DotMap/ displays the race and...
-
Logan White is general manager of Valuepoint Salons. During 2018, White worked for the company all year at a $13,600 monthly salary. He also earned a year-end bonus equal to 15% of his annual salary....
-
A small plane flies a distance d 1 = 34 km in a direction 1 = 52 o north of east and then flies d 2 = 28 km in a direction 2 = 14 o north of east. 1. What is the magnitude of the net displacement...
-
An air conditioning unit is to supply air at 20C, 1 bar, and relative humidity 50% to a lecture theatre. Ambient conditions are 30C, 1 bar, and relative humidity 75%. Calculate; (i) the dew point...
-
The current sections of Bellinham Inc.s balance sheets at December 31, 2009 and 2010, are presented here. Bellinhams net income for 2010 was $153,000. Depreciation expense was $24,000. Instructions...
-
Scully Corporations comparative balance sheets are presented below. Additional information: 1. Net income was $22,630. Dividends declared and paid were $19,500. 2. All other changes in noncurrent...
-
Use the fact that triangles ABC and DEF are similar to find the value of x. 6 B C D 7 E F
-
Write the present value formula for future cash flows. Re-write this present value formula using m-talk. Redefine the m-talk equation in terms of expected returns.
-
Why is the expected (rather than actual) return on pension plan assets treated as a reduction of periodic pension expense?
-
Accounting for OPEBs draws on the accounting for pensions, with some important differences. Explain these differences.
-
Write the equation for the market model form of the CAPM. What is the intercept term in this model? Can the intercept be used to test the CAPM?
-
Where do pension costs appear in the financial statements?
-
Why is a monopolists demand curve the same as the market demand curve for its product? Why does this differ from the perfect competition case?
-
Government is advised to tax goods whose demand curves are inelastic if the goal is to raise tax revenues. If the goal is to discourage consumption, then it ought to tax goods whose demand curves are...
-
Fees for services provided are billed to a customer during 2007. The customer remits the amount owed in 2008. During which year would the revenues be reported on the income statement under (a) the...
-
The Securities and Exchange Commission (SEC) is the primary regulatory agency of U.S. financial markets. Its job is to ensure that the markets remain fair for all investors. The following SEC sites...
-
The Securities and Exchange Commission (SEC) is the primary regulatory agency of U.S. financial markets. Its job is to ensure that the markets remain fair for all investors. The following SEC sites...
-
The Securities and Exchange Commission (SEC) is the primary regulatory agency of U.S. financial markets. Its job is to ensure that the markets remain fair for all investors. The following SEC sites...
-
3. Create a chart for gross margin less R&D and capital costs calculations. a. Calculate gross margin less R&D and capital costs for options A and B. b. Graph total gross margin less R&D and capital...
-
Why was Thomas Paine's "common sense" article significant to the american revolution?
-
Aramex, Inc is currently offering a bond with a par value of $1,000, which is priced at $1,488 in the market. The bond offers a fixed annual coupon rate of 14.05 percent, which is paid semiannually....
Study smarter with the SolutionInn App