Question
The T-accounts for Equipment and the related Accumulated DepreciationEquipment for Luo Company at the end of 2020 are shown here. Equipment Beg. bal.80,500 Disposals23,500 Acquisitions44,600
The T-accounts for Equipment and the related Accumulated DepreciationEquipment for Luo Company at the end of 2020 are shown here.
Equipment
Beg. bal.80,500
Disposals23,500
Acquisitions44,600
End. bal.101,600
Accumulated DepreciationEquipment
Disposals8,800
Beg. bal.41,300
Depr. exp.12,200
End. bal.44,700
In addition, Luo's income statement reported a loss on the disposal of plant assets of $6,000. What amount was reported on the statement of cash flows as "cash flow from sale of equipment"?(Show amount that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
Cash flow from sale of equipment
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