Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The T-accounts for Equipment and the related Accumulated DepreciationEquipment for Oriole Company at the end of 2019 are shown here. Equipment Beg. bal. 75,600 Disposals

The T-accounts for Equipment and the related Accumulated DepreciationEquipment for Oriole Company at the end of 2019 are shown here.

Equipment
Beg. bal.

75,600

Disposals 21,800
Acquisitions

45,500

End. bal.

99,300

Accumulated DepreciationEquipment

Disposals

8,000

Beg. bal.

44,700

Depr. exp.
11,500
End. bal.
48,200

In addition, Oriole Companys income statement reported a loss on the disposal of plant assets of $7,000. What amount was reported on the statement of cash flows as cash flow from sale of equipment? (Show an amount that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Value Based Management Context And Application

Authors: Glen Arnold, Matt Davies

1st Edition

0471899860, 978-0471899860

More Books

Students also viewed these Accounting questions