The T-accounts for Equipment and the related Accumulated DepreciationEquipment for Goldstone Company at the end of 2025
Question:
The T-accounts for Equipment and the related Accumulated Depreciation—Equipment for Goldstone Company at the end of 2025 are shown here.
In addition, Goldstone’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 “cash flow from sale of equipment”?
Transcribed Image Text:
Beg. bal. Acquisitions End. bal. Equipment 80,000 Disposals 41,000 100,000 21,000 Accum. Depr.-Equipment Beg. bal. Depr. exp. End. bal. Disposals 5,100 44,500 12,000 51,400
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Original cost of equipment sold Less Accumulated deprec...View the full answer
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Related Book For
Accounting Tools For Business Decision Making
ISBN: 9781119791058
8th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Jill E. Mitchell
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