The T accounts for Equipment and the related Accumulated Depreciation for Pettengill Company at the end of
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The T accounts for Equipment and the related Accumulated Depreciation for Pettengill Company at the end of 2010 are shown here.
In addition, Pettengill Company’s income statement reported a loss on the sale of equipment of $5,500.What amount was reported on the statement of cash flows as “cash flow from sale of equipment”?
Transcribed Image Text:
Accumulated Depreciation Equipment 80,000 Disposals 41,600 Beg, bal. Acquisitions 22,000 Disposals 5,500 Beg. bal. Depr. exp. 44,500 12,000 End. bal. End. bal. 51,000 99,600
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Original cost of equipment sold 22000 L...View the full answer
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Related Book For
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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