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The following three accounts appear in the general ledger of Metlock, Inc. during 2022 Equipment Date Debit Credit Balance 158,600 Jan. 1 Balance July 226,600
The following three accounts appear in the general ledger of Metlock, Inc. during 2022 Equipment Date Debit Credit Balance 158,600 Jan. 1 Balance July 226,600 31 68,000 Sept. 277,600 2 Purchase of equipment Cost of equipment constructed Cost of equipment sold 51.000 48,500 229,100 Nov. 10 Accumulated Depreciation-Equipment Debit Credit Date Balance 70,900 Jan. 1 Balance Nov. 10 55,400 Accumulated depreciation on equipment sold 15,500 23.200 78,600 Dec. 31 Depreciation for year Retained Earnings Date Debit Credit Balance Jan 1 Balance Aug. 23 17,300 Dividends (cash) Net income 105,200 87.900 153,500 Dec. 31 65,600 From the postings in the accounts, indicate how the information is reported on a statement of cash Mows using the indirect method. The loss on disposal of plant assets was $8,800. (Hint: Cost of equipment constructed is reported in the investing activities section as a decrease in cash of $51,000.) (show amounts that decrease cash flow with either a- signes -15,000 or in parenthesis es. (15,000 Metlock, Inc. Partial Statement of Cash Flows Adjustments to reconcile net income to Retained Earnings Date Debit Credit Balance Jan 1 Balance Aug. 23 17,300 Dividends (cash) Net income 105,200 87.900 153,500 Dec. 31 65,600 From the postings in the accounts, indicate how the information is reported on a statement of cash Mows using the indirect method. The loss on disposal of plant assets was $8,800. (Hint: Cost of equipment constructed is reported in the investing activities section as a decrease in cash of $51,000.) (show amounts that decrease cash flow with either a- signes -15,000 or in parenthesis es. (15,000 Metlock, Inc. Partial Statement of Cash Flows Adjustments to reconcile net income to Metlock, Inc. Partial Statement of Cash Flows Adjustments to reconcile net income to C
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