General Journal - preparation of the statement of cash flows
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Indicate in general journal form how the items below would be entered in a worksheet for the preparation of the statement of cash flows. (For multiple debit/credit entries, list amounts from largest to smallest eg 10, 5, 3, 2. If no entry is required enter "No Entry" for the account and 0 for the amount.)
(a) Net income is $317,000.
(b) Cash dividends declared and paid totaled $120,000.
(c) Equipment was purchased for $114,000.
(d) Equipment that originally cost $40,000 and had accumulated depreciation of $32,000 was sold for $10,000.
Description Debit Credit
(a... see attachment).
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The solution prepares General Journal for preparation of the statement of cash flows.
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