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all of 17.7 please E17.7 (LO 2) The following three accounts appear in the general ledger of Herrick Corp. during 2020. Prepare partial statement of
all of 17.7 please
E17.7 (LO 2) The following three accounts appear in the general ledger of Herrick Corp. during 2020. Prepare partial statement of cash flows-indirect method. Credit Date Jan. 1 July 31 Balance 160,000 230,000 Equipment Debit Balance Purchase 70,000 of equipment Cost of 53,000 equipment constructed Cost of equipment sold Sept. 2 283,000 Nov. 10 49,000 234,000 Accumulated Depreciation-Equipment Accumulated Depreciation Equipment Date Debit Credit Jan. 1 Nov. 10 Balance 71,000 41,000 30,000 Balance Accumulated depreciation on equipment sold Depreciation for year Dec. 31 28,000 69,000 Retained Earnings Date Debit Credit Jan. 1 Aug. 23 Balance Dividends (cash) Balance 105,000 91,000 14,000 Retained Earnings Date Debit Credit Balance 105,000 Jan. 1 Aug. 23 14,000 91,000 Balance Dividends (cash) Net income Dec. 31 77,000 168,000 Instructions From 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 plant assets was $7,000. (Hint: Cost of equipment constructed is reported in the investing activities section as a decrease in cash of $53,000.) E17.8 (LO 2. 3) Financial Statement Rojas Corporation's comparative balance sheets are presented below. Prepare statement of cash flows and compute free cash flow Step by Step Solution
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