Acc 557 Homework 5: Chapter 13

In: Other Topics

Submitted By GloriaRowsey
Words 422
Pages 2
ACC 557 Homework 5: Chapter 13 http://homeworklance.com/downloads/acc-557-homework-5-chapter-13/

Due Week 9 and worth 50 points Directions: Answer the following questions on a separate Microsoft Word or Excel document. Explain how you reached the answer or show your work if a mathematical calculation is needed, or both. Submit your assignment using the assignment link in Blackboard. Exercises E13-3.Cushenberry Corporation had the following transactions. 1. Sold land (cost $12,000) for $15,000.
2. Issued common stock at par for $20,000.
3. Recorded depreciation on buildings for $17,000.
4. Paid salaries of $9,000.
5. Issued 1,000 shares of $1 par value common stock for equipment worth $8,000.
6. Sold equipment (cost $10,000, accumulated depreciation $7,000) for $1,200. Instructions
For each transaction above, (a) prepare the journal entry, and (b) indicate how it would affect the statement of cash flows using the indirect method. E13-4.Gutierrez Company reported net income of $225,000 for 2015. Gutierrez also reported depreciation expense of $45,000 and a loss of $5,000 on the disposal of equipment. The comparative balance sheet shows a decrease in accounts receivable of $15,000 for the year, a $17,000 increase in accounts payable, and a $4,000 decrease in prepaid expenses. Instructions
Prepare the operating activities section of the statement of cash flows for 2015. Use the indirect method.

Problems P13-3A.The income statement of Whitlock Company is presented here.
Additional information:
1. Accounts receivable increased $200,000 during the year, and inventory decreased $500,000.
2. Prepaid expenses increased $150,000 during the year.
3. Accounts payable to suppliers of merchandise decreased $340,000 during the year.
4. Accrued expenses payable decreased $100,000 during the year.
5. Operating expenses include…...

Similar Documents

Acc 557 Week 7 Chapter 11 Homework

...ACC 557 Week 7 Chapter 11 Homework http://homeworktimes.com/downloads/acc-557-week-7-chapter-11-homework/ click above Link to get this A Graded Assignment For More information visit our website : http://homeworktimes.com/ Let us know if we can assist you with any thing else today Hit us Email at : Onlineeducationalservice@gmail.com Thank you ACC 557 Week 7 Chapter 11 (E11-7,E11-13,E11-17,P11-3A) ACC 557 Week 7 Chapter 11 Homework ACC 557 Week 7 Chapter 11 Homework http://homeworktimes.com/downloads/acc-557-week-7-chapter-11-homework/ click above Link to get this A Graded Assignment For More information visit our website : http://homeworktimes.com/ Let us know if we can assist you with any thing else today Hit us Email at : Onlineeducationalservice@gmail.com Thank you ACC 557 Week 7 Chapter 11 (E11-7,E11-13,E11-17,P11-3A) ACC 557 Week 7 Chapter 11 Homework ACC 557 Week 7 Chapter 11 Homework http://homeworktimes.com/downloads/acc-557-week-7-chapter-11-homework/ click above Link to get this A Graded Assignment For More information visit our website : http://homeworktimes.com/ Let us know if we can assist you with any thing else today Hit us Email at : Onlineeducationalservice@gmail.com Thank you ACC 557 Week 7 Chapter 11 (E11-7,E11-13,E11-17,P11-3A) ACC 557 Week 7 Chapter 11 Homework ACC 557 Week 7 Chapter 11 Homework http://homeworktimes.com/downloads/acc-557-week-7-chapter-11-homework/ click above Link to get this A Graded......

Words: 936 - Pages: 4

Acc 557 Week 9 Chapter 13 Homework

...ACC 557 Week 9 Chapter 13 Homework http://homeworktimes.com/downloads/acc-557-week-9-chapter-13-homework/ click above Link to get this A Graded Assignment For More information visit our website : http://homeworktimes.com/ Let us know if we can assist you with any thing else today Hit us Email at : Onlineeducationalservice@gmail.com ACC 557 Week 9 Chapter 13 Homework http://homeworktimes.com/downloads/acc-557-week-9-chapter-13-homework/ click above Link to get this A Graded Assignment For More information visit our website : http://homeworktimes.com/ Let us know if we can assist you with any thing else today Hit us Email at : Onlineeducationalservice@gmail.com ACC 557 Week 9 Chapter 13 Homework http://homeworktimes.com/downloads/acc-557-week-9-chapter-13-homework/ click above Link to get this A Graded Assignment For More information visit our website : http://homeworktimes.com/ Let us know if we can assist you with any thing else today Hit us Email at : Onlineeducationalservice@gmail.com ACC 557 Week 9 Chapter 13 Homework http://homeworktimes.com/downloads/acc-557-week-9-chapter-13-homework/ click above Link to get this A Graded Assignment For More information visit our website : http://homeworktimes.com/ Let us know if we can assist you with any thing else today Hit us Email at : Onlineeducationalservice@gmail.com ACC 557 Week 9 Chapter 13......

Words: 275 - Pages: 2

Acc 557 Week 9 Chapter 13 Homework 5

...ACC 557 Week 9 Chapter 13 Homework 5 ACC 557 Week 9 Chapter 13 Homework 5 Click Link Below To Buy: http://hwcampus.com/shop/acc-557-week-9-chapter-13-homework-5/ Due Week 9 and worth 50 points Directions: Answer the following questions on a separate Microsoft Word or Excel document. Explain how you reached the answer or show your work if a mathematical calculation is needed, or both. Submit your assignment using the assignment link in Blackboard. Exercises E13-3. Cushenberry Corporation had the following transactions. • Sold land (cost $12,000) for $15,000. • Issued common stock at par for $20,000. • Recorded depreciation on buildings for $17,000. • Paid salaries of $9,000. • Issued 1,000 shares of $1 par value common stock for equipment worth $8,000. • Sold equipment (cost $10,000, accumulated depreciation $7,000) for $1,200. Instructions For each transaction above, (a) prepare the journal entry, and (b) indicate how it would affect the statement of cash flows using the indirect method. E13-4. Gutierrez Company reported net income of $225,000 for 2015. Gutierrez also reported depreciation expense of $45,000 and a loss of $5,000 on the disposal of equipment. The comparative balance sheet shows a decrease in accounts receivable of $15,000 for the year, a $17,000 increase in accounts payable, and a $4,000 decrease in prepaid expenses. Instructions Prepare the operating activities section of the statement of cash flows for 2015. Use the indirect......

Words: 436 - Pages: 2

Acc 557 Week 9 Chapter 13 Homework 5 Acc 557 Week 9 Chapter 13 Homework 5

...ACC 557 Week 9 Chapter 13 Homework 5 ACC 557 Week 9 Chapter 13 Homework 5 Click Link Below To Buy: http://hwcampus.com/shop/acc-557-week-9-chapter-13-homework-5/ Due Week 9 and worth 50 points Directions: Answer the following questions on a separate Microsoft Word or Excel document. Explain how you reached the answer or show your work if a mathematical calculation is needed, or both. Submit your assignment using the assignment link in Blackboard. Exercises E13-3. Cushenberry Corporation had the following transactions. • Sold land (cost $12,000) for $15,000. • Issued common stock at par for $20,000. • Recorded depreciation on buildings for $17,000. • Paid salaries of $9,000. • Issued 1,000 shares of $1 par value common stock for equipment worth $8,000. • Sold equipment (cost $10,000, accumulated depreciation $7,000) for $1,200. Instructions For each transaction above, (a) prepare the journal entry, and (b) indicate how it would affect the statement of cash flows using the indirect method. E13-4. Gutierrez Company reported net income of $225,000 for 2015. Gutierrez also reported depreciation expense of $45,000 and a loss of $5,000 on the disposal of equipment. The comparative balance sheet shows a decrease in accounts receivable of $15,000 for the year, a $17,000 increase in accounts payable, and a $4,000 decrease in prepaid expenses. Instructions Prepare the operating activities section of the statement of cash flows for 2015. Use the indirect......

Words: 436 - Pages: 2

Acc 557 Homework 4: Chapters 11 and 12\

...ACC 557 Homework 4: Chapters 11 and 12\ http://homeworklance.com/downloads/acc-557-homework-4-chapters-11-12/ Due Week 8 and worth 70 points Directions: Answer the following questions on a separate Microsoft Word or Excel document. Explain how you reached the answer or show your work if a mathematical calculation is needed, or both. Submit your assignment using the assignment link in Blackboard. Exercises E11-7. Quay Co. had the following transactions during the current period. Mar. 2 Issued 5,000 shares of $5 par value common stock to attorneys in payment of a bill for $30,000 for services performed in helping the company to incorporate. June 12 Issued 60,000 shares of $5 par value common stock for cash of $375,000. July 11 Issued 1,000 shares of $100 par value preferred stock for cash at $110 per share. Nov. 28 Purchased 2,000 shares of treasury stock for $80,000. Instructions Journalize the transactions. E11-13. On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the following occurred. Apr. 1 Issued 25,000 additional shares of common stock for $17 per share. June 15 Declared a cash dividend of $1 per share to stockholders of record on June 30. July 10 Paid the $1 cash dividend. Dec. 1 Issued 2,000 additional shares of......

Words: 1567 - Pages: 7

Acc 557 Homework 5: Chapter 13

...ACC 557 Homework 5: Chapter 13 http://homeworklance.com/downloads/acc-557-homework-5-chapter-13/ Due Week 9 and worth 50 points Directions: Answer the following questions on a separate Microsoft Word or Excel document. Explain how you reached the answer or show your work if a mathematical calculation is needed, or both. Submit your assignment using the assignment link in Blackboard. Exercises E13-3.Cushenberry Corporation had the following transactions. 1. Sold land (cost $12,000) for $15,000. 2. Issued common stock at par for $20,000. 3. Recorded depreciation on buildings for $17,000. 4. Paid salaries of $9,000. 5. Issued 1,000 shares of $1 par value common stock for equipment worth $8,000. 6. Sold equipment (cost $10,000, accumulated depreciation $7,000) for $1,200. Instructions For each transaction above, (a) prepare the journal entry, and (b) indicate how it would affect the statement of cash flows using the indirect method. E13-4.Gutierrez Company reported net income of $225,000 for 2015. Gutierrez also reported depreciation expense of $45,000 and a loss of $5,000 on the disposal of equipment. The comparative balance sheet shows a decrease in accounts receivable of $15,000 for the year, a $17,000 increase in accounts payable, and a $4,000 decrease in prepaid expenses. Instructions Prepare the operating activities section of the statement of cash flows for 2015. Use the indirect method. Problems P13-3A.The income statement......

Words: 422 - Pages: 2

Acc 557 Week 9 Chapter 13 Homework 5 to Buy This Class Copy & Paste Below Link in Your Brower

...ACC 557 Week 9 Chapter 13 Homework 5 To Buy this Class Copy & paste below link in your Brower http://homeworkregency.com/downloads/acc-557-week-9-chapter-13-homework-5/ Or Visit Our Website Visit : http://www.homeworkregency.com Email Us : homeworkregency@gmail.com ACC 557 Week 9 Chapter 13 Homework 5 Due Week 9 and worth 50 points Directions: Answer the following questions on a separate Microsoft Word or Excel document. Explain how you reached the answer or show your work if a mathematical calculation is needed, or both. Submit your assignment using the assignment link in Blackboard. Exercises E13-3. Cushenberry Corporation had the following transactions. • Sold land (cost $12,000) for $15,000. • Issued common stock at par for $20,000. • Recorded depreciation on buildings for $17,000. • Paid salaries of $9,000. • Issued 1,000 shares of $1 par value common stock for equipment worth $8,000. • Sold equipment (cost $10,000, accumulated depreciation $7,000) for $1,200. Instructions For each transaction above, (a) prepare the journal entry, and (b) indicate how it would affect the statement of cash flows using the indirect method. E13-4. Gutierrez Company reported net income of $225,000 for 2015. Gutierrez also reported depreciation expense of $45,000 and a loss of $5,000 on the disposal of equipment. The comparative balance sheet shows a decrease in accounts receivable of $15,000 for the year, a $17,000 increase in accounts payable, and a $4,000......

Words: 456 - Pages: 2

Acc 557 Homework 1 to 5 Complete Solution

...ACC 557 Homework 1 to 5 Complete solution To Buy this Class Copy & paste below link in your Brower http://homeworklance.com/downloads/acc-557-homework-1-5-complete-solution/ Or Visit Our Website Visit : http://homeworklance.com Email Us : lancehomework@gmail.com ACC 557 Homework 1-5 Complete solution ACC 557 Homework 1: Chapters 1, 2, and 3 Due Week 2 and worth 95 points Directions: Answer the following questions in a separate Microsoft Word or Excel document. Explain how you reached the answer or show your work if a mathematical calculation is needed, or both. Submit your assignment using the assignment link in Blackboard. Exercises E1-11.Two items are omitted from each of the following summaries of balance sheet and income statement data for two corporations for the year 2015, Plunkett Co. and Herring Enterprises. Instructions Determine the missing amounts. E2-9.Selected transactions from the journal of Kati Tillman, investment broker, are presented below. Instructions 1. Post the transactions to T-accounts. 2. Prepare a trial balance at August 31, 2015. E2-11.Presented below is the ledger for Higgs Co. Instructions 1. Reproduce the journal entries for the transactions that occurred on October 1, 10, and 20, and provide explanations for each. 2. Determine the October 31 balance for each of the accounts above, and prepare a trial balance at October......

Words: 4265 - Pages: 18

Acc 557 Homework 4: Chapters 11 and 12\

...ACC 557 Homework 4: Chapters 11 and 12\ http://homeworklance.com/downloads/acc-557-homework-4-chapters-11-12/ Due Week 8 and worth 70 points Directions: Answer the following questions on a separate Microsoft Word or Excel document. Explain how you reached the answer or show your work if a mathematical calculation is needed, or both. Submit your assignment using the assignment link in Blackboard. Exercises E11-7. Quay Co. had the following transactions during the current period. Mar. 2 Issued 5,000 shares of $5 par value common stock to attorneys in payment of a bill for $30,000 for services performed in helping the company to incorporate. June 12 Issued 60,000 shares of $5 par value common stock for cash of $375,000. July 11 Issued 1,000 shares of $100 par value preferred stock for cash at $110 per share. Nov. 28 Purchased 2,000 shares of treasury stock for $80,000. Instructions Journalize the transactions. E11-13. On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the following occurred. Apr. 1 Issued 25,000 additional shares of common stock for $17 per share. June 15 Declared a cash dividend of $1 per share to stockholders of record on June 30. July 10 Paid the $1 cash dividend. Dec. 1 Issued 2,000 additional shares of......

Words: 784 - Pages: 4

Acc 557 Week 9 Chapter 13 Homework 5 to Buy This Class Copy & Paste Below Link in Your Brower

...ACC 557 Week 9 Chapter 13 Homework 5 To Buy this Class Copy & paste below link in your Brower http://homeworkregency.com/downloads/acc-557-week-9-chapter-13-homework-5/ Or Visit Our Website Visit : http://www.homeworkregency.com Email Us : homeworkregency@gmail.com ACC 557 Week 9 Chapter 13 Homework 5 Due Week 9 and worth 50 points Directions: Answer the following questions on a separate Microsoft Word or Excel document. Explain how you reached the answer or show your work if a mathematical calculation is needed, or both. Submit your assignment using the assignment link in Blackboard. Exercises E13-3. Cushenberry Corporation had the following transactions. • Sold land (cost $12,000) for $15,000. • Issued common stock at par for $20,000. • Recorded depreciation on buildings for $17,000. • Paid salaries of $9,000. • Issued 1,000 shares of $1 par value common stock for equipment worth $8,000. • Sold equipment (cost $10,000, accumulated depreciation $7,000) for $1,200. Instructions For each transaction above, (a) prepare the journal entry, and (b) indicate how it would affect the statement of cash flows using the indirect method. E13-4. Gutierrez Company reported net income of $225,000 for 2015. Gutierrez also reported depreciation expense of $45,000 and a loss of $5,000 on the disposal of equipment. The comparative balance sheet shows a decrease in accounts receivable of $15,000 for the year, a $17,000 increase in accounts payable, and a $4,000......

Words: 456 - Pages: 2

Acc 557 Week 9 Chapter 13 Homework 5 Acc 557 Week 9 Chapter 13 Homework 5

...ACC 557 Week 9 Chapter 13 Homework 5 ACC 557 Week 9 Chapter 13 Homework 5 Click Link Below To Buy: http://hwcampus.com/shop/acc-557-week-9-chapter-13-homework-5/ Due Week 9 and worth 50 points Directions: Answer the following questions on a separate Microsoft Word or Excel document. Explain how you reached the answer or show your work if a mathematical calculation is needed, or both. Submit your assignment using the assignment link in Blackboard. Exercises E13-3. Cushenberry Corporation had the following transactions. • Sold land (cost $12,000) for $15,000. • Issued common stock at par for $20,000. • Recorded depreciation on buildings for $17,000. • Paid salaries of $9,000. • Issued 1,000 shares of $1 par value common stock for equipment worth $8,000. • Sold equipment (cost $10,000, accumulated depreciation $7,000) for $1,200. Instructions For each transaction above, (a) prepare the journal entry, and (b) indicate how it would affect the statement of cash flows using the indirect method. E13-4. Gutierrez Company reported net income of $225,000 for 2015. Gutierrez also reported depreciation expense of $45,000 and a loss of $5,000 on the disposal of equipment. The comparative balance sheet shows a decrease in accounts receivable of $15,000 for the year, a $17,000 increase in accounts payable, and a $4,000 decrease in prepaid expenses. Instructions Prepare the operating activities section of the statement of cash flows for 2015. Use the indirect......

Words: 436 - Pages: 2

Acc 557 Homework 1-5 Complete Solution

...ACC 557 Homework 1-5 Complete solution Follow Below Link to Download Tutorial http://homeworklance.com/downloads/acc-557-homework-1-5-complete-solution/ For More Information Visit Our Website ( http://homeworklance.com/ ) Email us At: Support@homeworklance.com or lancehomework@gmail.com ACC 557 Homework 1: Chapters 1, 2, and 3 Due Week 2 and worth 95 points Directions: Answer the following questions in a separate Microsoft Word or Excel document. Explain how you reached the answer or show your work if a mathematical calculation is needed, or both. Submit your assignment using the assignment link in Blackboard. Exercises E1-11.Two items are omitted from each of the following summaries of balance sheet and income statement data for two corporations for the year 2015, Plunkett Co. and Herring Enterprises. Instructions Determine the missing amounts. E2-9.Selected transactions from the journal of Kati Tillman, investment broker, are presented below. Instructions 1. Post the transactions to T-accounts. 2. Prepare a trial balance at August 31, 2015. E2-11.Presented below is the ledger for Higgs Co. Instructions 1. Reproduce the journal entries for the transactions that occurred on October 1, 10, and 20, and provide explanations for each. 2. Determine the October 31 balance for each of the accounts above, and prepare a trial balance at October 31, 2015. ......

Words: 4258 - Pages: 18

Acc 557 Homework 4: Chapters 11 and 12\

...ACC 557 Homework 4: Chapters 11 and 12\ Follow Below Link to Download Tutorial http://homeworklance.com/downloads/acc-557-homework-4-chapters-11-12/ For More Information Visit Our Website ( http://homeworklance.com/ ) Email us At: Support@homeworklance.com or lancehomework@gmail.com Due Week 8 and worth 70 points Directions: Answer the following questions on a separate Microsoft Word or Excel document. Explain how you reached the answer or show your work if a mathematical calculation is needed, or both. Submit your assignment using the assignment link in Blackboard. Exercises E11-7. Quay Co. had the following transactions during the current period. Mar. 2 Issued 5,000 shares of $5 par value common stock to attorneys in payment of a bill for $30,000 for services performed in helping the company to incorporate. June 12 Issued 60,000 shares of $5 par value common stock for cash of $375,000. July 11 Issued 1,000 shares of $100 par value preferred stock for cash at $110 per share. Nov. 28 Purchased 2,000 shares of treasury stock for $80,000. Instructions Journalize the transactions. E11-13. On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the following occurred. Apr. 1 Issued 25,000 additional shares of common stock for $17 per share. June 15 ......

Words: 809 - Pages: 4

Acc 557 Homework 5: Chapter 13

...ACC 557 Homework 5: Chapter 13 Follow Below Link to Download Tutorial http://homeworklance.com/downloads/acc-557-homework-5-chapter-13/ For More Information Visit Our Website ( http://homeworklance.com/ ) Email us At: Support@homeworklance.com or lancehomework@gmail.com Due Week 9 and worth 50 points Directions: Answer the following questions on a separate Microsoft Word or Excel document. Explain how you reached the answer or show your work if a mathematical calculation is needed, or both. Submit your assignment using the assignment link in Blackboard. Exercises E13-3.Cushenberry Corporation had the following transactions. 1. Sold land (cost $12,000) for $15,000. 2. Issued common stock at par for $20,000. 3. Recorded depreciation on buildings for $17,000. 4. Paid salaries of $9,000. 5. Issued 1,000 shares of $1 par value common stock for equipment worth $8,000. 6. Sold equipment (cost $10,000, accumulated depreciation $7,000) for $1,200. Instructions For each transaction above, (a) prepare the journal entry, and (b) indicate how it would affect the statement of cash flows using the indirect method. E13-4.Gutierrez Company reported net income of $225,000 for 2015. Gutierrez also reported depreciation expense of $45,000 and a loss of $5,000 on the disposal of equipment. The comparative balance sheet shows a decrease in accounts receivable of $15,000 for the year, a $17,000 increase in accounts payable, and a $4,000 decrease in......

Words: 447 - Pages: 2

Acc 557 Week 9 Chapter 13 Homework 5 to Buy This Class Copy & Paste Below Link in Your Brower

...ACC 557 Week 9 Chapter 13 Homework 5 To Buy this Class Copy & paste below link in your Brower http://homeworkregency.com/downloads/acc-557-week-9-chapter-13-homework-5/ Or Visit Our Website Visit : http://www.homeworkregency.com Email Us : homeworkregency@gmail.com ACC 557 Week 9 Chapter 13 Homework 5 Due Week 9 and worth 50 points Directions: Answer the following questions on a separate Microsoft Word or Excel document. Explain how you reached the answer or show your work if a mathematical calculation is needed, or both. Submit your assignment using the assignment link in Blackboard. Exercises E13-3. Cushenberry Corporation had the following transactions. • Sold land (cost $12,000) for $15,000. • Issued common stock at par for $20,000. • Recorded depreciation on buildings for $17,000. • Paid salaries of $9,000. • Issued 1,000 shares of $1 par value common stock for equipment worth $8,000. • Sold equipment (cost $10,000, accumulated depreciation $7,000) for $1,200. Instructions For each transaction above, (a) prepare the journal entry, and (b) indicate how it would affect the statement of cash flows using the indirect method. E13-4. Gutierrez Company reported net income of $225,000 for 2015. Gutierrez also reported depreciation expense of $45,000 and a loss of $5,000 on the disposal of equipment. The comparative balance sheet shows a decrease in accounts receivable of $15,000 for the year, a $17,000 increase in accounts payable, and a $4,000......

Words: 456 - Pages: 2