Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The T-accounts for Equipment and the related Accumulated Depreciation-Equipment for Pronghorn Company at the end of 2022 are shown here. Equipment Beg. bal. 80,300 Disposals

image text in transcribed

The T-accounts for Equipment and the related Accumulated Depreciation-Equipment for Pronghorn Company at the end of 2022 are shown here. Equipment Beg. bal. 80,300 Disposals 21,900 Acquisitions 43,200 End. bal. 101,600 Accumulated Depreciation Equipment Disposals 5,000 Beg. bal. 43,200 Depr. exp. 13,400 End. bal. 51,600 In addition, Pronghorn's income statement reported a loss on the disposal of plant assets of $3,900. What amount was reported on the statement of cash flows as "cash flow from sale of equipment? (Show amount 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 $ 26900 e Textbook and Media Save for Later Attempts: 2 of 5 used Submit

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

More Books

Students also viewed these Accounting questions