Preparing Entries for an Accounting WorksheetIndicate the entries that would be included on an accounting worksheet for each of the following items.a. Depreciation expense of $25,805.b. Increase in prepaid expenses of $4,000.c. Purchase of equipment of $160,000.d. Dividend payment, $19,200.Cash Flow Worksheet EntriesDepreciation Expense-Operating sectionAccumulated DepreciationIncrease in Prepaid Expenses Operating sectionCashPurchase of Equipment-Investing sectionCashDividends Paid-Financing sectionCash◆◆◆◆◆+✔✓XxxXXDr.25,805 ✔04,0000160,000 ✓019,200 ✓0✔Cr.0✔25,805 ✔0✔4.000 ✓0✓160,000 ✓0✔19,200✔

Journal entries are basically recording of business transactions in the books of accounts. It…

Preparing Entries for an Accounting Worksheet Indicate the entries that would be included on an accounting worksheet for each of the following items. a. Depreciation expense of $25,805. b. Increase in prepaid expenses of $4,000. c. Purchase of equipment of $160,000. d. Dividend payment, $19,200.

Preparing Entries for an Accounting Worksheet Indicate the entries that would be included on an accounting worksheet for each of the following items. a. Depreciation expense of $25,805. b. Increase in prepaid expenses of $4,000. c. Purchase of equipment of $160,000. d. Dividend payment, $19,200.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Preparing Entries for an Accounting Worksheet
Indicate the entries that would be included on an accounting worksheet for each of the following items.
a. Depreciation expense of $25,805.
b. Increase in prepaid expenses of $4,000.
c. Purchase of equipment of $160,000.
d. Dividend payment, $19,200.
Cash Flow Worksheet Entries
Depreciation Expense-Operating section
Accumulated Depreciation
Increase in Prepaid Expenses Operating section
Cash
Purchase of Equipment-Investing section
Cash
Dividends Paid-Financing section
Cash
◆
◆
◆
◆
◆
+
✔✓
X
x
x
X
X
Dr.
25,805 ✔
0
4,000
0
160,000 ✓
0
19,200 ✓
0✔
Cr.
0✔
25,805 ✔
0✔
4.000 ✓
0✓
160,000 ✓
0✔
19,200✔

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