Question: b below is the drop down for the statement of cash flows ( Reporting changes in Equipment on Statement of Cash Flows An analysis of
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below is the drop down for the statement of cash flows
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Reporting changes in Equipment on Statement of Cash Flows An analysis of the general ledger accounts indicates that delivery equipment, which cost $80,000 and on which accumulated depreciation totaled $36,000 on the date of sale, was sold for $37,200 during the year Using this information, indicate the items to be reported on the statement of cash flows. Transaction Section of Statement of Cash Flows Added or Deducted Select Select $80,000 cost of office equipment Select Select $36,000 accumulated depreciation Select Select $37,200 sales price Select Select $6,800 loss on sale of equipment (assume the indirect method is used)
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