Question
The T-accounts for Equipment and the related Accumulated DepreciationEquipment for Sheridan Company at the end of 2017 are shown here. Equipment Beg. bal. 174,000 Disposals
The T-accounts for Equipment and the related Accumulated DepreciationEquipment for Sheridan Company at the end of 2017 are shown here.
Equipment | |||
---|---|---|---|
Beg. bal. | 174,000 | Disposals | 47,850 |
Acquisitions | 90,480 | ||
End. bal. | 216,630 | ||
Accum. Depr.Equipment | |||
Disposals | 11,093 | Beg. bal. | 96,788 |
Depr. exp. | 26,100 | ||
End. bal. | 111,795 |
In addition, Sheridan Companys income statement reported a loss on the disposal of plant assets of $7,613. 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).)
Cash flow from sale of equipment |
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