The T-accounts for Equipment and the related Accumulated Depreciation Equip. for Coldsmith Company at the end of

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The T-accounts for Equipment and the related Accumulated Depreciation Equip. for Coldsmith Company at the end of 2014 are shown here.

In addition, Coldsmith Company€™s income statement reported a loss on the disposal of plant assets of $3,500. What amount was reported on the statement of cash flows as €œcash flow from sale ofequipment€?

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Accounting Tools for Business Decision Making

ISBN: 978-1118128169

5th edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Question Posted: Apr 07, 2014 11:35 AM

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The T-accounts for Equipment and the related Accumulated Depreciation Equip. for Coldsmith Company at the end of

Question:

Equipment Accum. Depr.-Equip Beg. ba 80,000 Disposals 22,000 Disposals 5,100 Beg. ba 44,500 Acquisitions 41,600 Depr exp 12,000 End. ba 51,400 End. bal. 99,600

Step by Step Answer:

Original cost of equipment sold 22000 L...View the full answer

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