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The T-accounts for Equipment and the related Accumulated DepreciationEquipment for Luo Company at the end of 2014 are shown here. Equipment Beg. bal. 80,290 Disposals
The T-accounts for Equipment and the related Accumulated DepreciationEquipment for Luo Company at the end of 2014 are shown here.
Equipment | |||
Beg. bal. | 80,290 | Disposals | 22,070 |
Acquisitions | 39,580 | ||
End. bal. | 97,800 | ||
Accumulated DepreciationEquipment | |||
Disposals | 5,690 | Beg. bal. | 47,590 |
Depr. exp. | 11,890 | ||
End. bal. | 53,790 |
In addition, Luo Companys income statement reported a loss on the disposal of equipment of $5,570. What amount was reported on the statement of cash flows as cash flow from sale of equipment?
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