The T accounts for Equipment and the related Accumulated Depreciation for Pettengill Company at the end of 2010 are shown here In addition, Pettengill Companys income statement reported a loss on the sale of equipment of $5,500 What amount was reported on the statement of cash flows as cash flow fr...

Original cost of equipment sold 22000 L ...

The T accounts for Equipment and the related Accumulated Depreciation for Pettengill Company at the end of

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The T accounts for Equipment and the related Accumulated Depreciation for Pettengill Company at the end of 2010 are shown here.

Accumulated Depreciation Equipment 80,000 Disposals 41,600 Beg, bal. Acquisitions 22,000 Disposals 5,500 Beg. bal. Depr.

In addition, Pettengill Company’s income statement reported a loss on the sale of equipment of $5,500.What amount was reported on the statement of cash flows as “cash flow from sale of equipment”?

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Accounting Principles

ISBN: 978-0470533475

9th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Sep 13, 2011 07:54 AM

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The T accounts for Equipment and the related Accumulated Depreciation for Pettengill Company at the end of

Question:

Accumulated Depreciation Equipment 80,000 Disposals 41,600 Beg, bal. Acquisitions 22,000 Disposals 5,500 Beg. bal. Depr. exp. 44,500 12,000 End. bal. End. bal. 51,000 99,600

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