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A B C Thompson Ltd. are shown here. Equipment Jan. 1 80,000 Acquisition 40,000 Disposals 20,000 Dec. 31 100,000 Accumulated Depreciation-Equipment Jan. 1 44,500
A B C Thompson Ltd. are shown here. Equipment Jan. 1 80,000 Acquisition 40,000 Disposals 20,000 Dec. 31 100,000 Accumulated Depreciation-Equipment Jan. 1 44,500 Depreciation 20,000 Disposals 5,500 Dec. 31 59,000 In addition, Thompson's statement of income reported the following amount. Loss on disposal of equipment $ 1,500 Enter Answer G H Cash provided by disposal of equipment $ 13,000 b. In what section of the statement of cash flows would the effects of this disposal transaction be reported? Reported as an operating activity Subtracted from net income Reported as an investing activity Book value of equipment sold Reported as a financing activity Not reported in this section Loss on disposal of equipment
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