Question
The T-accounts for Equipment and the related Accumulated DepreciationEquipment for Sheridan Company at the end of 2022 are shown here. Equipment Beg. bal. 68,000 Disposals
The T-accounts for Equipment and the related Accumulated DepreciationEquipment for Sheridan Company at the end of 2022 are shown here.
Equipment | |||
---|---|---|---|
Beg. bal. | 68,000 | Disposals | 18,700 |
Acquisitions | 35,360 | ||
End. bal. | 84,660 | ||
Accum. Depr.Equipment | |||
Disposals | 4,335 | Beg. bal. | 37,825 |
Depr. exp. | 10,200 | ||
End. bal. | 43,690 |
In addition, Sheridan Companys income statement reported a loss on the disposal of plant assets of $2,975. 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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