The T accounts for plant assets and accumulated depreciation for Street Company at the end of 2014

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The T accounts for plant assets and accumulated depreciation for Street Company at the end of 2014 follow.

In addition, Street€™s income statement shows a gain on sale of plant assets of $8,800. Compute the amounts to be shown as cash flows from investing activities, and show how they appear on the statement of cashflows.

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Principles of Accounting

ISBN: 978-1133626985

12th edition

Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson

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Question Posted: Mar 26, 2014 09:13 AM

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The T accounts for plant assets and accumulated depreciation for Street Company at the end of 2014

Question:

Plant Assets Accumulated Depreciation Dr. Dr. Cr Cr Beg. B 130,000 Disposals 46,000 Disposals 29400 Beg. Bal. Purchases 67,200 End. Bal. 151,200 69,000 Depreciation 20,400 60,000 End. Bal.

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