Analyzing Cash Flow Effects of Equipment Sale Frontier Company sold equipment on June 30, 2020, for $36,000 The equipment had been depreciated $1,800 for the first six months of 2020, contributing to an accumulated depreciation balance of $12,000 on June 30, 2020 The original cost of the equipment was $60,000 Assuming the indirect method in presenting cash flows from operating activities, indicate any adjustments to net income in the operating activities section and any additions or subtractions in the investing and financing activities sections Note Indicate a subtraction in the cash flow statement with a negative sign in the Amount column Note If an item is not included in the cash flow statement, enter a zero in the Amount column and N A in the Cash Flow Section column Item Amount Cash Flow Section Depreciation of equipment Answer AnswerOperating activities sectionInvesting activities sectionFinancing activities sectionN A Loss on sale of equipment Answer AnswerOperating activities sectionInvesting activities sectionFinancing activities sectionN A Gain on sale of equipment Answer AnswerOperating activities sectionInvesting activities sectionFinancing activities sectionN A Proceeds from sale of equipment Answer AnswerOperating activities sectionInvesting activities sectionFinancing activities sectionN A

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Analyzing Cash Flow Effects of Equipment Sale Frontier Company sold equipment on June 30, 2020, for $36,000  The equipment had been depreciated $1,800 for the first six months of 2020, contributing to an accumulated depreciation balance of $12,000 on June 30, 2020  The original cost of the equipment was $60,000  Assuming the indirect method in presenting cash flows from operating activities, indicate any adjustments to net income in the operating activities section and any additions or subtractions in the investing and financing activities sections  Note   Indicate a subtraction in the cash flow statement with a negative sign in the Amount column  Note   If an item is not included in the cash flow statement, enter a zero in the Amount column and  N A  in the Cash Flow Section column  Item Amount Cash Flow Section Depreciation of equipment Answer AnswerOperating activities sectionInvesting activities sectionFinancing activities sectionN A Loss on sale of equipment Answer AnswerOperating activities sectionInvesting activities sectionFinancing activities sectionN A Gain on sale of equipment Answer AnswerOperating activities sectionInvesting activities sectionFinancing activities sectionN A Proceeds from sale of equipment Answer AnswerOperating activities sectionInvesting activities sectionFinancing activities sectionN A

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Analyzing Cash Flow Effects of Equipment Sale Frontier Company sold equipment on June 30, 2020, for $36,000. The equipment had been depreciated $1,800 for the

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Item	Amount	Cash Flow Section
Depreciation of equipment	Answer	AnswerOperating activities sectionInvesting activities sectionFinancing activities sectionN/A
Loss on sale of equipment	Answer	AnswerOperating activities sectionInvesting activities sectionFinancing activities sectionN/A
Gain on sale of equipment	Answer	AnswerOperating activities sectionInvesting activities sectionFinancing activities sectionN/A
Proceeds from sale of equipment	Answer	AnswerOperating activities sectionInvesting activities sectionFinancing activities sectionN/A