the summarized activity of the current fiscal year. Upon completion, the trial balance tab sho balances. Journal entry worksheet Reconstruct the journal entry for depreciation expense, incorporating the change in the related balance sheet account(s), if any. Note: Enter debits before credits. the summarized activity of the current fiscal year. Upon completion, the trial balance tab s balances. Journal entry worksheet Use the following financial statements and additional information. the summarized activity of the current fiscal year. Upon completion, the trial balance tab 5 balances. Journal entry worksheet Reconstruct the journal entry for cash receipts from customers, incorporating the change in the related balance sheet account(s), if any. Note: Enter debits before credits. the summarized activity of the current fiscal year. Upon completion, the trial balance tab shoulh balances. Journal entry worksheet Reconstruct the journal entry for cash payments for inventory, incorporating the change in the related balance sheet account(s), if any. Note: Enter debits before credits. the summarized activity of the current fiscal year. Upon completion, the trial balance tab s balances. Journal entry worksheet Reconstruct the entry to record the retirement of the $32,000 note payable at its $32,000 carrying (book) value in exchange for cash. Note: Enter debits before credits. the summarized activity of the current fiscal year. Upon completion, the trial balance tab s balances. Journal entry worksheet keconstruct the journal entry for cash dividends paid. Note: Enter debits before credits. the summarized activity of the current fiscal year. Upon completion, the trial balance tab sho balances. Journal entry worksheet the summarized activity of the current fiscal year. Upon completion, the trial balance tab s balances. Journal entry worksheet 1 6 7 8 9 10 13 Close all revenue and gain accounts to income summary. Note: Enter debits before credits. Post-closing Prepare the operating activities section of the statement of cash flows using the indirect method. reductions to net cash provided by operating activities as negative values. the summarized activity of the current fiscal year. Upon completion, the trial balance tab sho balances. Journal entry worksheet reconstruct the entry for the purchase of new equipment. Note: Enter debits before credits. the summarized activity of the current fiscal year. Upon completion, the trial balance tab sho balances. Journal entry worksheet 1 7 8 13. Reconstruct the journal entry for the sale of equipment at a gain, incorporating the change in the related balance sheet account(s), if any. Note: Enter debits before credits. the summarized activity of the current fiscal year. Upon completion, the trial balance tab s balances. Journal entrv workchont the summarized activity of the current fiscal year. Upon completion, the trial balance tab sho balances. Journal entry worksheet (1) 2 (8) ,13 Reconstruct the journal entry for income taxes expense, incorporating the change in the related balance sheet account(s), if any. Note: Enter debits before credits. Additional Information a. A $32,000 note payable is retired at its $32,000 carrying (book) value in exchange for cash. b. The only changes affecting retained earnings are net income and cash dividends paid. c. New equipment is acquired for $65,000 cash. d. Received cash for the sale of equipment that had cost $54,000, yielding a $2,900 gain. e. Prepaid Expenses and Wages Payable relate to Other Expenses on the income statement. f. All purchases and sales of inventory are on credit. Prepare the Statement of Cash flows for the year ended June 30, 2021 using the Direct Method. Hint Use the Cash Taccount on the General Ledger tab to identify the sources and uses of cash. List cash outflows as negative values. the summarized activity of the current fiscal year. Upon completion, the trial balance tab sho balances. Journal entry worksheet (1) 2 6 7 8. 13. Reconstruct the journal entry for cash paid for operating expenses, incorporating the change in the related balance sheet account(s), if any. Note: Enter debits before credits
