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need asap The following three accounts appear in the general ledger of Herrick Corp. during 2020. Equipment Date Debit Credit Balance Jan 1 Balance 160.500
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The following three accounts appear in the general ledger of Herrick Corp. during 2020. Equipment Date Debit Credit Balance Jan 1 Balance 160.500 July 31 Purchase of equipment 71.900 232.400 Sept. 2 Cost of equipment constructed 51.100 283.500 Nov. 10 Cost of equipment sold 51,700 231.800 Accumulated Depreciation-Equipment Date Debit Credite Balance Jan 1 Balance 69.100 Nov. 10 31,600 37.500 Accumulated depreciation on equipment sold Depreciation for year Dec 31 23,300 60,800 Retained Earnings Date Debit Credit Balance Jan 1 Balance 105,100 Aug 23 Dividends (cash) 19.000 86,100 Dec 31 Net income 67.000 153,100 From the postings in the accounts, indicate how the information is reported on a statement of cash flows using the indirect method. The low on disposal of plant assets was 55,700.Hint Cost of equipment constructed is reported in the investing activities section as a decrease in canh of $51.100(Show amounts that decrease cash flow with either - signes. 15,000 or in parenthesis es (15,000) decrease in cash of $51.100. (Show amount HERRICK CORP Partial Statement of Cash Flows Adjustments to reconcile net income to > > $ V eTextbook and Media Attempts of 3 used SA Step by Step Solution
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