Question: The T accounts for Equipment and the related Accumulated Depreciation for Pettengill Company at the end of 2010 are shown here. In addition, Pettengill Companys

The T accounts for Equipment and the related Accumulated Depreciation for Pettengill Company at the end of 2010 are shown here.

Accumulated Depreciation Equipment 80,000 Disposals 41,600 Beg, bal. Acquisitions 22,000 Disposals 5,500 Beg. bal. Depr.

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”?

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

Step by Step Solution

★★★★★

3.35 Rating (164 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

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

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

47-B-A-B-S-C-F (167).docx

120 KBs Word File

Students Have Also Explored These Related Accounting Questions!

The T accounts for Equipment and the related Accumulated Depreciation for Kimberlain Company at the end of 2010 are shown here. In addition, Kimberlain Companys income statement reported a loss on...

The T accounts for equipment and the related accumulated depreciation for Trevis Corporation are as follows: In addition, Trevis's income statement reported a loss on the sale of equipment of $1,500....

The T accounts for Equipment and the related Accumulated Depreciation for Perkins Company at the end of 2011 are shown here. In addition, Perkins Companys income statement reported a loss on the sale...

Eurrent Attempt in Progress The T accounts for equipment and the related accumulated depreciation for Carla Vista Corporation are as follows: In addition, Carla Vista's income statement reported a...

BE14-7 The T accounts for Equipment and the related Accumulated Depreciation for Pettengill Company at the end of 2008 are shown here. Equipment Accumulated Depreciation Beg. bal. Acquisitions 80,000...

The T accounts for Equipment and the related Accumulated Depreciation for Pettengill Company at the end of 2007 are shown here. Equipment Accumulated Depreciation Beg. bal. 80,000 | Disposals 22,000...

The T accounts for Equipment and the related Accumulated Depreciation for Anastacia Company at the end of 2012 are shown here. In addition, Anastacia Company's income statement reported a loss on the...

The T accounts for Equipment and the related Accumulated DepreciationEquipment for Ada Company at the end of 2012 are shown here. Equipment Accumulated DepreciationEquipment Beg. bal. 80,000...

The T accounts for Equipment and the related Accumulated DepreciationEquipment for Ada Company at the end of 2012 are shown here. In addition, Ada Companys income statement reported a loss on the...

Brief Exercise 12-07 The T-accounts for Equipment and the related Accumulated DepreciationEquipment for Cullumber Company at the end of 2020 are shown here. Equipment Beg. bal. 75,000 Disposals...

Should foreign companies seeking to issue securities in the United States be required to disclose as much as U.S. companies issuing securities in the United States? Critically evaluate the arguments...

Consider the accompanying data on x = advertising share and y = market share for a particular brand of soft drink during 10 randomly selected years. a. Construct a scatterplot for these data. Do you...

Which of the following choices is true of both perfectly competitive firms and monopolistically competitive firms? (A) Barriers to entry (B) Homogenous products (C) Normal profits in the long run (D)...

A student receives test scores of 62, 83, and 91. The student\'s final exam score is 88 and homework score is 76. Each test is worth 20% of the final grade, the final exam is 25% of the final grade,...

Which of the following statements is false? A). The going concern assumption underlies the preparation of financial statements. B). If a company is not a going concern, the classification of its...

What factors affect the linear range of the GF-AAS calibration curve? How can you correct them?

Which among the following statement regarding phasors is INCORRECT? the phasor angle for a purely resistive component is at a 0 degree angle for a real inductor, the phasor points above the x axis O...

Complete appropriate research, using primary authoritative sources to compile two documents: (1) a research memo (internal memo) appropriately summarizing the results of the tax research to your...

Evaluate the limit, using LHopitals Rule where it applies. 1-64 lim x 4 x + 16

What is the difference between the current ratio and the acid-test ratio?

On January 1, 2024, the Mason Manufacturing Company began construction of a building to be used as its office headquarters. The building was completed on September 30, 2025. Expenditures on the...

Determine the t critical value(s) that will capture the desired t-curve area in each of the following cases. (Assume that central areas are centered at t = 0. Round your answers to three decimal...

JOHNSON & JOHNSON Part B - Relative Valuation: Estimate a growth rate for your firm's Earnings per Share (EPS). Determine an applicable Price-Earnings (P/E) ratio for your firm in 5 years. Calculate...