The T accounts for plant assets and accumulated depreciation for LMN Company at the end of 20Ã7

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The T accounts for plant assets and accumulated depreciation for LMN Company at the end of 20Ã—7 are as follows:

In addition, LMN Company's income statement shows a gain on sale of plant assets of $8,800. Compute the amounts to be shown as cash flows from investing activities and show how they are to appear on the statement of cash flows.

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Principles of Accounting

ISBN: 978-0618736614

10th edition

Authors: Belverd Needles, Marian Powers, Susan Crosson

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Question Posted: Aug 01, 2016 01:07 PM

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The T accounts for plant assets and accumulated depreciation for LMN Company at the end of 20Ã7

Question:

PLANT ASSETS ACcUMULATED DEPRECIATION Beg. Bal. 130,000Disposals 46,000 Disposals 29,400 Beg. Bal Purchases 67,200 End. Bal. 151,200 69,000 Depreciation 20,400 d. Bal.60,000

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Calculation of Cash Flows from Investing Activities of Company L for the year ended 31 st December 2...View the full answer

Principles of Accounting

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