The T accounts for Equipment; Accumulated Depreciation, Equipment; and Loss on Disposal of Property and Equipment for
Question:
New equipment was bought for cash, and the used equipment was sold for cash. Compute the amounts to be included on the statement of cash flows and indicate where these amounts should beshown.
Transcribed Image Text:
Equipment Accumulated Depreciation Equipment Beg. Bal 75,600 Disposa 16200 Disposal Purchases 24,300 End. Bal. 83,700 8,100 Beg. Bal 55,800 Adjusting 12,600 End. B 60,300 Loss on Disposal of Property and Equipment Disposal 5400
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
On the statement of cash flows under Investing Activities list Sal...View the full answer
Answered By
Lamya S
Highly creative, resourceful and dedicated High School Teacher with a good fluency in English (IELTS- 7.5 band scorer) and an excellent record of successful classroom presentations.
I have more than 2 years experience in tutoring students especially by using my note making strategies.
Especially adept at teaching methods of business functions and management through a positive, and flexible teaching style with the willingness to work beyond the call of duty.
Committed to ongoing professional development and spreading the knowledge within myself to the blooming ones to make them fly with a colorful wing of future.
I do always believe that more than being a teacher who teaches students subjects,...i rather want to be a teacher who wants to teach students how to love learning..
Subjects i handle :
Business studies
Management studies
Operations Management
Organisational Behaviour
Change Management
Research Methodology
Strategy Management
Economics
Human Resource Management
Performance Management
Training
International Business
Business Ethics
Business Communication
Things you can expect from me :
- A clear cut answer
- A detailed conceptual way of explanation
- Simplified answer form of complex topics
- Diagrams and examples filled answers
4.90+
46+ Reviews
54+ Question Solved
Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
Question Posted:
Students also viewed these Managerial Accounting questions
-
The T accounts for equipment and accumulated depreciation for Trevis Ltd. are shown here: In addition, Trevis's income statement reported a $1,500 loss on the disposal of equipment. (a) What amount...
-
The T accounts for Equipment and the related Accumulated Depreciation for Kimberlain Company at the end of 2010 are shown here. In addition, Kimberlain Companys income statement reported a loss on...
-
The T accounts for equipment and the related accumulated depreciation for Trevis Corporation are as follows: In addition, Trevis's income statement reported a loss on the sale of equipment of $1,500....
-
e) Based on your investigation of the data set create two well-formatted tables that illustrate some important features of the data. Your tables should have informative labels and a readable number...
-
A U.S. institutional investor with a large portfolio of U.S. and international stocks wants to add 20,000 shares of DaimlerChrysler to its portfolio. DaiinlerChiysler trades as the same global share...
-
An article in IEEE Transactions on Instrumentation and Measurement (2001, Vol. 50, pp. 20332040) reported on a study that had analyzed powdered mixtures of coal and limestone for permittivity. The...
-
If it is assumed that the enthalpy of reaction, \(Q_{p}\), is a constant, show that the value of \(K_{p}\) is given by \[K_{p}=\mathrm{e}^{-Q_{p} / \Re T+k}\] where \(k\) is a constant. For a...
-
Baird County maintains an investment trust fund for the School District and the Town of Bairdville (separate governments). Presented below is the preclosing trial balance for the investment trust...
-
also give me the references Social Media Audit of a Hotel Brand Individual Assignment You are required to research and analyze a hospitality company or brand's use of social media over the last 1-3...
-
The W.C. Pruett Corp. has $600,000 of interest-bearing debt outstanding, and it pays an annual interest rate of 7%. In addition, it has $600,000 of common stock on its balance sheet. It finances with...
-
Ready Corporation reported net income of $ 153,000 for 2013. Depreciation Expense, Equipment of $ 10,000 was included on the income statement. The December 31 balances of current assets and current...
-
The T accounts for Dividends Payable, Common Stock, Paid-in Capital in Excess of Par Value, and Retained Earnings for Mario Corporation at the end of 2013 follow. Compute the amounts to be included...
-
(Pension Expense, Journal Entries) Latoya Company provides the following selected information related to its defined-benefit pension plan for 2010. (a) Compute pension expense and prepare the journal...
-
Which is a benefit of after-tax contributions to an HSA? After-tax contributions reduce wages reported on Form W-2, box 1. Contributions are exempt from FICA tax. Contributions may be made until the...
-
A circular conducting loop with a radius of 0.1 m is placed in a uniform magnetic field of 0.5 T. The magnetic field is changing at a rate of 0.02 Ts. The loop has a total resistance of 5 Q. (a)...
-
Suppose you will invest $1,600 each year at the interest rate of 9.4%, beginning one year from now Assuming the interest rate compounds annually, what will be the total future value of these...
-
Explain, briefly, the three strategic approaches to competitive advantages.
-
Given the Hill cipher's encryption key, k - 1 7 determine the corresponding decryption key.
-
For each of the following items, circle either a or b. In some cases, both a and b may apply to you. You should decide which is more like you, even if it is only slightly more true. On a project, I...
-
Refer to the situation described inBE 18-13, but assume a 2-for-1 stock split instead of the 5% stock dividend. Prepare the journal entry to record the stock split if it is to be effected in the form...
-
Does the Challenge Solution change if the entry of the generic causes a parallel shift to the left of the patent monopoly's linear demand curve?
-
Bob North and Whitney Adam are partners with capital balances of $1,500 and $600, respectively. They share all profits and losses equally. From the following independent situations, journalize the...
-
Leach, Register, and Vargas are partners. On July 30, 201X, the balance sheet was as follows: The partners agree to share all losses and gains in a 2:2:1 ratio. Vargas is withdrawing from the...
-
The partnership of Jackson, Rackley, and Surber is being liquidated. All gains and losses are shared in a 3:2:1 ratio. Before liquidation, their balance sheet looks as follows: Journalize the entries...
-
Ferris wished to execute a swap to take advantage of her expectation of a yield curve shift and believes that any difference in credit spread between LIBOR and U.S. Treasury market rates will remain...
-
Compute the following 6 answers for this bong paying semi-annual interest given:Par Value = $1,000Coupon Rate = 10.80%Time to Mature = 12 yearsFirst Opportunity to Call = 6 yearsCall Premium =...
-
The following are check figures: From the ledger - ending cash balance=$22,570. Using the 10 column worksheet find the remaining balances. The figures include the - Trial balance totals=$85,595,...
Study smarter with the SolutionInn App