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The T accounts for equipment and the related accumulated depreciation for Blossom Corporation are as follows: -13 = Equipment Beg. bal. 80,000 Purchases 41,600 Disposals
The T accounts for equipment and the related accumulated depreciation for Blossom Corporation are as follows: -13 = Equipment Beg. bal. 80,000 Purchases 41,600 Disposals 23,000 End. bal. 98,600 Accumulated Depreciation-Equipment Beg. bal. 44,500 Disposals 5,000 Depreciation 11,000 End. bal. 50,500 In addition, Blossom's income statement reported a loss on the sale of equipment of $1,000. What will be reported on the cash fl- statement with regard to the sale of equipment if Blossom uses the indirect method? (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis eg. (15,000).) Operating activities: Loss on sale of equipment $ Investing activities: 79000 $
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