The three accounts shown below appear in the general ledger of Jurena Corp. during 2012. InstructionsFrom the
Question:
The three accounts shown below appear in the general ledger of Jurena Corp. during 2012.
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 $8,000.
Transcribed Image Text:
Equipment Debit Credit Balance Date Balance 160,000 Jan. 1 Purchase of equipment Cost of equipment constructed Cost of equipment sold July 31 Sept. 2 Nov. 10 70,000 230,000 53,000 283,000 234,000 49,000 Accumulated Depreciation-Equipment Debit Credit Balance Date Balance 71,000 Jan. 1 Nov. 10 Accumulated depreciation on equipment sold Depreciation for year 16,000 55,000 Dec. 31 28,000 83,000 Retained Earnings Debit Credit Balance Date Balance Jan. 105,000 Aug. 23 Dec. 31 Dividends (cash) 14,000 91,000 163,000 Net income 72,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (12 reviews)
JURENA CORP Partial Statement of Cash Flows For the Year Ended December 31 2...View the full answer
Answered By
Muhammad Khurram
I have strong General Management skills to apply in your projects. Over last 3 years, I have acquired great knowledge of Accounting, Auditing, Microsoft Excel, Microsoft PowerPoint, Finance, Microsoft Project, Taxation, Strategic Management, Human Resource, Financial Planning, Business Planning, Microsoft Word, International Business, Entrepreneurship, General Management, Business Mathematics, Advertising, Marketing, Supply Chain, and E-commerce. I can guarantee professional services with accuracy.
4.80+
249+ Reviews
407+ Question Solved
Related Book For
Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, 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...
-
In Exercises show that is strictly monotonic on the given interval and therefore has an inverse function on that interval. f(x) = cos x, [0, ]
-
The stream of water shown flows at a rate of 550 liters/min and moves with a velocity of magnitude 18 m/s at both A and B. The vane is supported by a pin and bracket at C and by a load cell at D that...
-
What is a well-diversified portfolio?
-
Find the Laplace transform of the given periodic function of \(f(t)\) in Figure 2.17 FIGURE 2.17 Periodic function in Problem 17. 1 ^(t) 0 2
-
Pratt Company acquired all of Spider, Inc.'s outstanding shares on December 31, 2018, for $495,000 cash. Pratt will operate Spider as a wholly owned subsidiary with a separate legal and accounting...
-
You are offered an investment that will pay you $49,972 in X years. The investment will cost you $8,245 today. Assuming a10% return, how many years is X? (Round to nearest year)
-
1. (Cost of trade credit) Calculate the effective cost of the following trade credit terms when payment is made on the net due date: 2. (Annual percentage yield) Compute the cost of the trade credit...
-
The following information is available for Oscar Corporation for the year ended December 31, 2012. Beginning cash balance .................$ 45,000 Accounts payable decrease ................3,700...
-
Shown below and on the next page are comparative balance sheets for Padgett Company. Additional information:1. Net income for 2012 was $93,000.2. Depreciation expense was $34,000.3. Cash dividends of...
-
Capital Expenditure A company purchased an asset on January 1, 2008, for $10,000. The asset was expected to have a ten-year life and a $1,000 salvage value . The company uses the straight-line method...
-
From the following transactions prepare the abbreviated general journals that apply where a business uses either the periodic inventory system or the perpetual inventory system. a The business...
-
Annual insurance of $5940 ($5400 + $540 GST) was paid at the end of February 2022 for the period March February. Monthly accounts are prepared and standing journals are used; balance date is 30 June....
-
Balances on accounts as at 30 June 2022, before balance day adjustments, were: equipment $55 000, accumulated depreciation equipment $21 000, insurance $5100 and wages $35 800. Balance day...
-
Prepare general journal entries to record the following balance day adjustments at 30 June 2022 and indicate the effect on profit from each journal. a Prepaid advertising is $852. b Unpaid salaries...
-
Use a demand and supply graph to illustrate the effects of the increase in the demand for pecans from Chinese consumers. Assume that the initial equilibrium price is $6 per unit. (Related to...
-
How is interest rate risk measured?
-
What exactly is a prima facie duty? How does an ethic of prima facie duties differ from monistic and absolutist ethical theories?
-
Which emission spectrum corresponds to the energy level diagram shown? Energy A increases A- B- II. E- D-
-
During its first year of operations, Fertig Company had credit sales of $3,000,000, of which $400,000 remained uncollected at year-end. The credit manager estimates that $18,000 of these receivables...
-
Kennewick Corp. had a beginning balance in accounts receivable of $70,000 and an ending balance of $91,000. Credit sales during the period were $598,000. Determine cash collections.
-
Kennewick Corp. had a beginning balance in accounts receivable of $70,000 and an ending balance of $91,000. Credit sales during the period were $598,000. Determine cash collections.
-
What are the uses of recombinant DNA pharmaceuticals?
-
on Project Risk Management, and describe how each of the 6 elements of project and portfolio risk management work together. In addition, do you see a need for a seventh element? Briefly explain why....
-
Distinguish between a small business and an entrepreneurial venture. If you were to start your own business, which would you wish it to be? Why? Discussion Requirements: Initial response is due by...
Communication Crisis And Revolution Of Paradigms Subjects 1st Edition - ISBN: 7810647482 - Free Book
Study smarter with the SolutionInn App