The accounts below appear in the ledger of Marigold Company. ...
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Accounting
The accounts below appear in the ledger of Marigold Company.
| Retained Earnings | Dr. | Cr. | Bal. | |||||
| Jan. 1, 2017 | Credit Balance | $42,100 | ||||||
| Aug. 15 | Dividends (cash) | $15,200 | 26,900 | |||||
| Dec. 31 | Net Income for 2017 | $40,100 | 67,000 | |||||
| Equipment | Dr. | Cr. | Bal. | |||||
| Jan. 1, 2017 | Debit Balance | $139,800 | ||||||
| Aug. 3 | Purchase of Equipment | $62,200 | 202,000 | |||||
| Sept. 10 | Cost of Equipment Constructed | 48,500 | 250,500 | |||||
| Nov. 15 | Equipment Sold | $55,600 | 194,900 | |||||
| Accumulated DepreciationEquipment | Dr. | Cr. | Bal. | |||||
| Jan. 1, 2017 | Credit Balance | $84,000 | ||||||
| Apr. 8 | Major Repairs | $20,900 | 63,100 | |||||
| Nov. 15 | Accum. Depreciation on Equipment Sold | 25,400 | 37,700 | |||||
| Dec. 31 | Depreciation for 2017 | $16,700 | 54,400 |
Prepare entries in journal form for all adjustments that should be made on a worksheet for a statement of cash flows. The loss on sale of equipment (November 15) was $5,800.
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You can see the logs in the Dashboard.