Answer Happy

Bridgeport Corp. Partial Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Loss on Disposal of Plant Assets Net Cash Provided by Operating Activities Cash Flows from Investing Activities Purchase of Equipment Construction of Equipment Sale of Equipment Net Cash used by Investing Activities Cash Flows from Financing Activities Payment of Cash Dividends 000 69 00 | |
The following three accounts appear in the general ledger of Bridgeport Corp. during 2022. Equipment Date Debit Credit Balance Jan. 1 Balance 80,000 July 31 Purchase of equipment 35,000 115,000 Sept. 2 Cost of equipment constructed 26,500 141,500 Nov. 10 Cost of equipment sold 117,000 Accumulated Depreciation-Equipment Date Debit Balance Jan. 1 Balance 35,500 Nov. 10 Accumulated depreciation on equipment sold 8,000 27,500 Dec. 31 Depreciation for year 41,500 Retained Earnings Date Balance Jan. 1 Balance 52,500 Aug. 23 Dividends (cash) 45,500 Dec. 31 Net income 81,500 Debit 7,000 24,500 Credit 14,000 Credit 36,000