The T-accounts for Equipment and the related Accumulated Depreciation- Equipment for Luo Company at the end of

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The T-accounts for Equipment and the related Accumulated Depreciation- Equipment for Luo Company at the end of 2019 are shown here.

In addition, Luo's income statement reported a loss on the disposal of plant assets of $6,500. What amount was reported on the statement of cash flows as "cash flow from sale of equipment"?

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Financial Accounting

ISBN: 978-1119305736

10th edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel

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Question Posted: Mar 29, 2017 11:54 AM

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The T-accounts for Equipment and the related Accumulated Depreciation- Equipment for Luo Company at the end of

Question:

Equipment Accumulated Depreciation-Equipment 80,000 Disposals 22,000 Disposals5,500 equisitions A1,* End. bal. 99,600 Depr exp. 12,00 End. bal. 51,000

Step by Step Answer:

Original cost of equipment sold 22000 Less Accumulated depr...View the full answer

Financial Accounting

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