These three accounts appear in the general ledger of Bosco Corp. during 2008. Instructions From the postings
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Instructions
From the postings in the accounts, indicate how the information is reported on a statement of cash flows using the indirect method. The loss on sale of equipment was$3,000.
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Equipment Jan. 1 July 31 Sept. 2 Nov. Balance Purchase of equipment Cost of equipment constructed Cost of equipment sold 160,000 230,000 283,000 244,000 70,000 10 39,000 Jan. 1 Nov. 10 Balance 71,000 equipment sold Depreciation for year 41,000 69,000 Dec. 31 28,000 Retained Earnings Jan. 1 Aug. 23 Dec. 31 Balance Dividends (cash) Net income 105,000 91.000 158,000 14,000 67,000
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Related Book For
Intermediate Accounting principles and analysis
ISBN: 978-0471737933
2nd Edition
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
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