subject
Business, 05.05.2020 17:44 tonyacoolmom

The three accounts shown below appear in the general ledger of Herrick Corp. during 2017.EquipmentDate Debit Credit BalanceJan. 1 Balance 160,000July 31 Purchase of equipment 70,000 230,000Sept.2 Cost of equipment constructed 53,000 283,000Nov. 10 Cost of equipment sold 49,000 234,000Accumulated Depreciation—EquipmentDate Debit Credit BalanceJan. 1 Balance 71,000Nov. 10 Accumulated depreciation 30,000 41,000 on equipment soldDec. 31 Depreciation for year 28,000 69,000Retained EarningsDate Debit Credit BalanceJan. 1 Balance 105,000Aug. 23 Dividends (cash) 14,000 91,000Dec. 31 Net income 77,000 168,000InstructionsFrom 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 $7,000. (Hint: Cost of equipment constructed is reported in the investing activities section as a decrease in cash of $53,000.)Prepare statement of cash flows and compute free cash flow.

ansver
Answers: 1

Other questions on the subject: Business

image
Business, 21.06.2019 21:00, yasmineeee96371
Jurvin enterprises is a manufacturing company that had no beginning inventories. a subset of the transactions that it recorded during a recent month is shown below. $76,700 in raw materials were purchased for cash. $71,400 in raw materials were used in production. of this amount, $66,300 was for direct materials and the remainder was for indirect materials. total labor wages of $151,700 were incurred and paid. of this amount, $134,300 was for direct labor and the remainder was for indirect labor. additional manufacturing overhead costs of $126,300 were incurred and paid. manufacturing overhead of $126,800 was applied to production using the company's predetermined overhead rate. all of the jobs in process at the end of the month were completed. all of the completed jobs were shipped to customers. any underapplied or overapplied overhead for the period was closed to cost of goods sold. required: 1. post the above transactions to t-accounts.2. determine the cost of goods sold for the period.
Answers: 1
image
Business, 22.06.2019 08:00, royalkk
In addition to using the icons to adjust page margins, a user can also use
Answers: 1
image
Business, 22.06.2019 17:30, nikki8240
Communication comes in various forms. which of the following is considered an old form of communication? a) e-mail b) letter c) skype d) texting
Answers: 2
image
Business, 23.06.2019 00:20, 218219
Firms like papa john’s, domino’s, and pizza hut sell pizza and other products that are differentiated in nature. while numerous pizza chains exist in most locations, the differentiated nature of these firms’ products permits them to charge prices above marginal cost. given these observations, is the pizza industry most likely a monopoly, perfectly competitive, monopolistically competitive, or an oligopoly industry?
Answers: 1
You know the right answer?
The three accounts shown below appear in the general ledger of Herrick Corp. during 2017.EquipmentDa...

Questions in other subjects:

Konu
Physics, 29.08.2021 01:30