Data for Popovich Company are presented in E23-18.

Instructions Prepare entries in journal form for all adjustments that should be made on a worksheet for a statement of cash flows.

Data From  E23-18 

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E23-18 (Partial SCF-Indirect Method) The accounts below appear in the ledger of Popovich Company. Retained Earnings Dr. Cr. Jan. 1, 2015 Aug. 15 Credit Balance Bal. 42,000 Dividends (cash) 15,000 27,000 Dec. 31 Net Income for 2015 50,000 77,000 Equipment Dr. Cr. Bal. Jan. 1, 2015 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. Jan. 1, 2015 Credit Balance Bal. 84,000 Nov. 15 Accum. Depreciation on Equipment Sold 25,200 58,800 Dec. 31 Depreciation for 2015 16,800 75,600 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 equip- ment (November 15) was 5,800.