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

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

In addition, Kimberlain Company€™s income statement reported a loss on the sale of equipment of $3,500. What amount was reported on the statement of cash flows as €œcash flow from sale ofequipment€?

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Financial Accounting Tools for Business Decision Making

ISBN: 978-0470239803

5th Edition

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

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Question Posted: Apr 21, 2012 05:19 AM

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

Question:

Equipment Accumulated Depreciation Beg. ba 80,000 Disposals 22,0 Acquisitions 41,600 00 Disposals 5,500 Beg. ba. 44,500 Depr exp. 12,000 End. bal 99,600 End. ba 51,000

Step by Step Answer:

Original cost of equipment sold 22000 L...View the full answer

Financial Accounting Tools for Business Decision Making

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