Question 5 of 6 < 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 $8,600. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis eg. (15,000)) VAUGHN CORP Partial Statement of Cash Flows Adjustments to reconcile net income to > >

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Question 5 of 6
<
>
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 $8,600. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis eg.
(15,000))
VAUGHN CORP
Partial Statement of Cash Flows
Adjustments to reconcile net income to
Transcribed Image Text:Question 5 of 6 < > 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 $8,600. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis eg. (15,000)) VAUGHN CORP Partial Statement of Cash Flows Adjustments to reconcile net income to
Question 5 of 6
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Date
Current Attempt In Progress
The following three accounts appear in the general ledger of Vaughn Corp. during 2022.
Jan. 1
July 31
Sept. 2
Nov. 10
Date
Jan. 1
Nov. 10
Dec. 31
Date
Jan 11
Aug 23
Dec. 31
<
Balance
Balance
Purchase of equipment
Purchase of equipment
Cost of equipment sold
>
Balance
Equipment
Net income
Debit Credit
Accumulated Depreciation-Equipment
Accumulated depreciation on equipment sold 15,800
Depreciation for year
Retained Earnings
Dividends (cash dividends declared and paid
71,700
54.400
Debit
49,700
17.500
Credit
21.000
Debit Credit
67.900
Balance
161,000
232,700
287,100
237,400
Balance
69.000
53,200
74.200
Balance
106.000
88,500
156.400
E
III
Transcribed Image Text:Question 5 of 6 View Policies Date Current Attempt In Progress The following three accounts appear in the general ledger of Vaughn Corp. during 2022. Jan. 1 July 31 Sept. 2 Nov. 10 Date Jan. 1 Nov. 10 Dec. 31 Date Jan 11 Aug 23 Dec. 31 < Balance Balance Purchase of equipment Purchase of equipment Cost of equipment sold > Balance Equipment Net income Debit Credit Accumulated Depreciation-Equipment Accumulated depreciation on equipment sold 15,800 Depreciation for year Retained Earnings Dividends (cash dividends declared and paid 71,700 54.400 Debit 49,700 17.500 Credit 21.000 Debit Credit 67.900 Balance 161,000 232,700 287,100 237,400 Balance 69.000 53,200 74.200 Balance 106.000 88,500 156.400 E III
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