The T-accounts for Equipment and the related Accumulated Depreciation- Equipment for Luo Company at the end of
Question:
In addition, Luo Company's income statement reported a loss on the disposal of equipment of $6,500. What amount was reported on the statement of cash flows as "cash flow from sale of equipment"?
Transcribed Image Text:
Accumulated Depreciation-Equipment Beg. ba 80,000 Disposals 22,000 Disposals 5,500 Beg. b 44,500 epr. exp. 12,000 End. bal. 51,000 Equipment Acquisitions 41,600 End. bal 99,600
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Related Book For
Financial and Managerial Accounting
ISBN: 978-1118334263
2nd edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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