The accounts below appear in the ledger of Popovich SA. Instructions From the postings in the accounts
Question:
The accounts below appear in the ledger of Popovich SA.
Instructions
From the postings in the accounts above, indicate how the information is reported on a statement of cash flows by preparing a partial statement of cash flows using the indirect method. The loss on sale of equipment (November 15) was €5,800.
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Retained Earnings Dr. Cг. Bal. Jan. 1, 2022 Credit Balance € 42,000 Aug. 15 Dividends (cash) €15,000 27,000 Dec. 31 Net Income for 2022 €50,000 77,000 Equipment Dr. Cr. Bal. Jan. 1, 2022 Debit Balance €140,000 Apr. 8 Major Repairs €21,000 161,000 Aug. 3 Purchase of Equipment 62,000 223,000 Sept. 10 Cost of Equipment Constructed 48,000 271,000 Nov. 15 Equipment Sold €66,000 205,000 Accumulated Depreciation- Equipment Dr. Cr. Bal. Jan. 1, 2022 Credit Balance € 84,000 Nov. 15 Accum. Depreciation on Equipment Sold €25,20o 58,800 Dec. 31 Depreciation for 2022 €16,800 75,600
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Related Book For
Intermediate Accounting IFRS
ISBN: 9781119607519
4th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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