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 Blue Spruce Company at the end of 2022 are shown here. Beg. bal. Acquisitions 44,600

The T-accounts for Equipment and the related Accumulated Depreciation-Equipment for Blue Spruce Company at the end of 2022 are shown here. Beg. bal. Acquisitions 44,600 End. bal. Equipment 80,500 Disposals 23,500 Disposals 101,600 Accumulated Depreciation-Equipment 5,800 Beg. bal. Depr. exp. End. bal. 41,300 12,200 47,700 In addition, Blue Spruce's income statement reported a loss on the disposal of plant assets of $3,000. 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 $ 8700
image text in transcribed
The T-accounts for Equipment and the related Accumulated Depreciation-Equipment for Blue Spruce Company at the end of 2022 are shown here. In addition, Blue Spruce's income statement reported a loss on the disposal of plant assets of $3,000. 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 es 15,000 or in parenthesis e:(15,000)) Cash flow from sale of equipment

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

Students also viewed these Accounting questions

Question

Strong analytical, communication, and problem-solving skills

Answered: 1 week ago

Question

Explain all drawbacks of application procedure.

Answered: 1 week ago