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During the period, 3anchez Company sold some cxcess oquipment at a loss. The following infcrmation was colccted from the company's accounting records From the Income
During the period, 3anchez Company sold some cxcess oquipment at a loss. The following infcrmation was colccted from the company's accounting records From the Income Statement Depreciation expense Loss on sale cf equipment 4,100 From the Balance Sheet Beginning ecuipment Ending equipment Begirning accumulated depreciaton Ending accumulated depreciation 20,200 12,000 1,900 1,20 No new equipment was bought during the period Required: 1. For the equipment that was sold, determine its original cost, its accumulated depreciation, and the cash received trom the sale (Usc the equipment and accumulated dcprecation -accounts to inter the book value ot the cquipment sold) Cost of erquipment sod ccumulated depreciaton on sold equipment Cash reccived from sale 2. Sanchoz Company uscs the indircct method tor thc Opcrating Activitcs soction of the cash flow statement What amcunt related to the salc would be addod or subtracted in the computation of Nct Cash Flows from Opcrating Activitics? (Input the amount as positive value.)
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