please see home questions attached. I need by 5pm this evening.

please see home questions attached. I need by 5pm this evening.

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Chapter 13 homework:
“Tim Latimer Corporation had the following transactions.
1. Sold land (cost $12,000) for $10,000.
2. Issued common stock at par value for $22,000.
3. Recorded depreciation on buildings for $14,000.
4. Paid salaries of $7,000. 5. Issued 1,000 shares of $1 par value common stock for equipment worth $9,000.
6. Sold equipment (cost $10,000, accumulated depreciation $8,000) for $3,200.”
For each transaction above, prepare the journal entry
No. Account Titles and
Explanations
Debit
Credi
t
1
2
3
4
5
6

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Exercise 13-4
Bracewell Company reported net income of $195,000 for 2014. Bracewell also reported depreciation expense of 
$40,000 and a gain of $5,000 on disposal of plant assets. The comparative balance sheet shows an increase in 
accounts receivable of $15,000 for the year, a $17,000 increase in accounts payable, and a $4,000 decrease in 
prepaid expenses.
Prepare the operating activities section of the statement of cash flows for 2014. Use the indirect method. 
(Show 
amounts that decrease cash flow with either a – sign e.g. -15,000 or in parenthesis e.g. (15,000).)
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question
BRACEWELL COMPANY
Partial Statement of Cash Flows
For the Year Ended December 31, 2014
$
Adjustments to reconcile net income to
$
$

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