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The T accounts for plant assets and accumulated depreciation for Street Company at the end of 2014 follow In addition, Street's income statement shows a
The T accounts for plant assets and accumulated depreciation for Street Company at the end of 2014 follow
In addition, Street's income statement shows a gain on sale of plant assets of $8,800. Compute the amounts to be shown as cash flows from investing activities, and show how they appear on the statement of cash flows.
Plant Assets Accumulated Depreciation Dr. 69,000 Beg. Bala 130,000 Disposals 46,000 Disposals 29,400 Beg, Bal. Purchases 67,200 Depreciation 20,400 End. Bal. 151,200 End. Bal. 60,000Step by Step Solution
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