The following three accounts appear in the general ledger of Carla Vista Co. dur

Question

The following three accounts appear in the general ledger of Carla Vista Co. during 2017 Equipment Date Jan. 1 July 31 Sept. 2 Nov. 10 Debit Balance Purchase of equipment Cost of equipment constructed Cost of equipment sold Credit Balance 282,880 406,640 500,344 86,632 413,712 123,760 93,704 Accumulated Depreciation-Equipment Debit Date Jan. 1 Nov. 10 Dec. 31 Balance Accumulated depreciation on equipment sold Depreciation for year Credit Balance 125,528 97,240 49,504 146,744 28,288 Retained Earnings Date Jan. 1 Balance Aug. 23 Dividends (cash) Dec. 3 Net income Debit Credit Balance 185,640 160,888 127,296288,184 24,752

Explanation / Answer

Carla Vista co Partial statement of cash flow Cash flows from operating activities Net income $1,27,296 Adjustments to reconcile net income to net cash provided by operating activities Depreciation expense          49,054 Loss on disposel of Plant assets          14,144          63,198 Net cash provided by operating activities       1,90,494 Cash flows from Investing activities Purchase of equipment    (1,23,760) Cost of equipment constructed        (93,704) Cost of equipment Sold(86632 - 14144)          72,488    (1,44,976) Net cash provided by operating activities    (1,44,976) Cash flows from Investing activities Divident paid          24,752

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