The following three accounts appear in the general ledger of Martinez Corp. during 2025. Date Jan....
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The following three accounts appear in the general ledger of Martinez Corp. during 2025. Date Jan. 1 July 31 Sept. 2 Nov. 10 Balance Purchase of equipment Purchase of equipment Cost of equipment sold Equipment Debit 119,000 90,100 Credit Balance 272,000 391,000 481.100 83,300 397.800 Date Jan. 1 Nov. 10 Dec. 31 Date Jan. 1 Aug. 23 Dec. 31 Balance Accumulated Depreciation-Equipment Accumulated depreciation on equipment sold Depreciation for year Balance Dividends (cash) Net income Retained Earnings Debit 27,200 Debit 23,800 Credit 47,600 Credit 122,400 Balance 120,700 93,500 141,100 Balance 178,500 154,700 277,100 From the postings in the accounts, indicate how the information is reported by preparing a partial statement of cash flows using the indirect method. The loss on disposal of plant assets was $13,600. (Show amounts that decrease cash flow with either a sign eg-15,000 or in parenthesis eg. (15,000)) The following three accounts appear in the general ledger of Martinez Corp. during 2025. Date Jan. 1 July 31 Sept. 2 Nov. 10 Balance Purchase of equipment Purchase of equipment Cost of equipment sold Equipment Debit 119,000 90,100 Credit Balance 272,000 391,000 481.100 83,300 397.800 Date Jan. 1 Nov. 10 Dec. 31 Date Jan. 1 Aug. 23 Dec. 31 Balance Accumulated Depreciation-Equipment Accumulated depreciation on equipment sold Depreciation for year Balance Dividends (cash) Net income Retained Earnings Debit 27,200 Debit 23,800 Credit 47,600 Credit 122,400 Balance 120,700 93,500 141,100 Balance 178,500 154,700 277,100 From the postings in the accounts, indicate how the information is reported by preparing a partial statement of cash flows using the indirect method. The loss on disposal of plant assets was $13,600. (Show amounts that decrease cash flow with either a sign eg-15,000 or in parenthesis eg. (15,000))
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Related Book For
Accounting Principles
ISBN: 978-1119411482
13th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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