The T accounts for Equipment; Accumulated Depreciation, Equipment; and Loss on Disposal of Property and Equipment for
Question:
New equipment was bought for cash, and the used equipment was sold for cash. Compute the amounts to be included on the statement of cash flows and indicate where these amounts should beshown.
Transcribed Image Text:
Equipment Accumulated Depreciation Equipment Beg. Bal 75,600 Disposa 16200 Disposal Purchases 24,300 End. Bal. 83,700 8,100 Beg. Bal 55,800 Adjusting 12,600 End. B 60,300 Loss on Disposal of Property and Equipment Disposal 5400
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 76% (13 reviews)
On the statement of cash flows under Investing Activities list Sal...View the full answer
Answered By
Lamya S
Highly creative, resourceful and dedicated High School Teacher with a good fluency in English (IELTS- 7.5 band scorer) and an excellent record of successful classroom presentations.
I have more than 2 years experience in tutoring students especially by using my note making strategies.
Especially adept at teaching methods of business functions and management through a positive, and flexible teaching style with the willingness to work beyond the call of duty.
Committed to ongoing professional development and spreading the knowledge within myself to the blooming ones to make them fly with a colorful wing of future.
I do always believe that more than being a teacher who teaches students subjects,...i rather want to be a teacher who wants to teach students how to love learning..
Subjects i handle :
Business studies
Management studies
Operations Management
Organisational Behaviour
Change Management
Research Methodology
Strategy Management
Economics
Human Resource Management
Performance Management
Training
International Business
Business Ethics
Business Communication
Things you can expect from me :
- A clear cut answer
- A detailed conceptual way of explanation
- Simplified answer form of complex topics
- Diagrams and examples filled answers
4.90+
46+ Reviews
54+ Question Solved
Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
Question Posted:
Students also viewed these Managerial Accounting questions
-
The T accounts for equipment and accumulated depreciation for Trevis Ltd. are shown here: In addition, Trevis's income statement reported a $1,500 loss on the disposal of equipment. (a) What amount...
-
The T accounts for Equipment and the related Accumulated Depreciation for Kimberlain Company at the end of 2010 are shown here. In addition, Kimberlain Companys income statement reported a loss on...
-
The T accounts for equipment and the related accumulated depreciation for Trevis Corporation are as follows: In addition, Trevis's income statement reported a loss on the sale of equipment of $1,500....
-
e) Based on your investigation of the data set create two well-formatted tables that illustrate some important features of the data. Your tables should have informative labels and a readable number...
-
A U.S. institutional investor with a large portfolio of U.S. and international stocks wants to add 20,000 shares of DaimlerChrysler to its portfolio. DaiinlerChiysler trades as the same global share...
-
creating a email about a Easter bunny costume with a preheader and call to action and subject
-
13. Suppose that S and Q follow equations (36) and (37). Derive the value of a claim paying S(T )aQ(T )b by each of the following methods: a. Compute the expected value of the claim and discounting...
-
1. Should Docutrend use the same pay policy for all of its open positions? 2. What pay policy would you recommend? Why?
-
Given the following information, what is the standard deviation of stock A if it has an expected return of 33% in a boom economy, an expected return of 18% in a good economy, and an expected return...
-
On December 1, 20X8, Hedge Company entered into a 60-day speculative forward contract to sell 200,000 British pounds () at a forward rate of 1 = $1.78. On the same day it purchased a 60-day...
-
Ready Corporation reported net income of $ 153,000 for 2013. Depreciation Expense, Equipment of $ 10,000 was included on the income statement. The December 31 balances of current assets and current...
-
The T accounts for Dividends Payable, Common Stock, Paid-in Capital in Excess of Par Value, and Retained Earnings for Mario Corporation at the end of 2013 follow. Compute the amounts to be included...
-
What did Johannes Rydberg and Walter Ritz discover about atomic spectra?
-
Moving Inc. wants to develop an activity flexible budget for the activity of moving materials. Moving Inc. uses forklifts to move materials from receiving to storeroom and then to production. The...
-
We are in the tail end of Quarter 3 earnings reporting season in the U.S. markets. Roughly 60 percent of companies that have reported their Q3 earnings so far have reported negative earnings relative...
-
Below is a running shock tube illustration. 0.1 0.0 | 0.0 4 4 Diaphragm 1 0.5 Image: Shock tube Initial setup 1 3 2 1 Expansion Head Expansion Tail Slip Shock Surface Image: Running Shock Tube...
-
As you may remember, Holiday Tree Services, Inc. (HTS) has recently entered into a contract with Delish Burger (Delish), whereby HTS is to supply and decorate a Christmas tree in each of Delish...
-
Understanding various types of leadership styles is important in order to determine personal leadership styles. Reflection: Answer both Compare and contrast 2 leadership styles. State the...
-
The following information relates to Kemp plc for the year to 31 March 2009: Required: Write up the following accounts for the year to 31 March 2009, being careful to insert the appropriate date for...
-
Refer to the situation described inBE 18-13, but assume a 2-for-1 stock split instead of the 5% stock dividend. Prepare the journal entry to record the stock split if it is to be effected in the form...
-
Does the Challenge Solution change if the entry of the generic causes a parallel shift to the left of the patent monopoly's linear demand curve?
-
Bob North and Whitney Adam are partners with capital balances of $1,500 and $600, respectively. They share all profits and losses equally. From the following independent situations, journalize the...
-
Leach, Register, and Vargas are partners. On July 30, 201X, the balance sheet was as follows: The partners agree to share all losses and gains in a 2:2:1 ratio. Vargas is withdrawing from the...
-
The partnership of Jackson, Rackley, and Surber is being liquidated. All gains and losses are shared in a 3:2:1 ratio. Before liquidation, their balance sheet looks as follows: Journalize the entries...
-
Suppose I have computed the cost of carbon per mile for my car at 0 . 0 1 2 per mile. Assume that the interest rate is 4 % and that I drive the car 2 8 , 0 0 0 miles per year. What is the present...
-
Imagine that in stable growth period, the firm earns ROIC of 10% and has after tax EBIT of 200 and reinvestment $ of 40. What is the steady state growth rate? 20% O 10% 2%
-
Tanner-UNF Corporation acquired as a long-term investment $160 million of 5.0% bonds, dated July 1, on July 1, 2021. Company management has the positive intent and ability to hold the bonds until...
Study smarter with the SolutionInn App