Question
The T-accounts for Equipment and the related Accumulated Depreciation-Equipment for Swifty Corporation at the end of 2022 are shown here. Beg. bal. Acquisitions End.
The T-accounts for Equipment and the related Accumulated Depreciation-Equipment for Swifty Corporation at the end of 2022 are shown here. Beg. bal. Acquisitions End. bal. Disposals Equipment 52,000 Disposals 27,040 64,740 Accum. Depr.-Equipment 3,315 Beg. bal. Depr. exp. End. bal. 14,300 28,925 7,800 33,410 In addition, Swifty Corporation's income statement reported a loss on the disposal of plant assets of $2,275. What amount was reported on the statement of cash flows as "cash flow from sale of equipment"? (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
9th edition
1-119-49356-3, 1119493633, 1119493560, 978-1119493631
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