Please do not give solution in image format thanku E14.3 (LO 1) Tim Latimer Ltd. had the following transactions.000,eath dividendo.b1. Sold land (cost £12,000) for £10,000.(den18Jani2. Issued ordinary shares at par value for £18,000.3. Recorded depreciation on buildings for £14,000.wod4. Paid salaries of £7,000.lg to5. Issued 1,000 shares of £1 par value ordinary shares for equipment worth £9,000.6. Sold equipment (cost £10,000, accumulated depreciation £8,000) for £3,500.2020 using theInstructions2091For each transaction above, (a) prepare the journal entry, and (b) indicate how it would affect the state-ment of cash flows under the indirect method.Eredingsstou) TAIM

In order to record a business transaction in the accounting records of the company, a journal entry…

E14.3 01) Tim Latimer Ltd. had the following transactions. dividendo 1. Sold land (cost £12,000) for £10,000. 2. Issued ordinary shares at par value for £18,000. 3. Recorded depreciation on buildings for £14,000.wod 4. Paid salaries of £7,000. 19220 Innig to Inzoqzib no zzal adT 5. Issued 1,000 shares of £1 par value ordinary shares for equipment worth £9,000. 6. Sold equipment (cost £10,000, accumulated depreciation £8,000) for £3,500. pu) CAIS Instructions For each transaction above, (a) prepare the journal entry, and (b) indicate how it would affect the state- of ooch flows under the indirect method.

E14.3 01) Tim Latimer Ltd. had the following transactions. dividendo 1. Sold land (cost £12,000) for £10,000. 2. Issued ordinary shares at par value for £18,000. 3. Recorded depreciation on buildings for £14,000.wod 4. Paid salaries of £7,000. 19220 Innig to Inzoqzib no zzal adT 5. Issued 1,000 shares of £1 par value ordinary shares for equipment worth £9,000. 6. Sold equipment (cost £10,000, accumulated depreciation £8,000) for £3,500. pu) CAIS Instructions For each transaction above, (a) prepare the journal entry, and (b) indicate how it would affect the state- of ooch flows under the indirect method.

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter5: Corporations: Earnings & Profits And Dividend Distributions

Section: Chapter Questions

Problem 31P

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