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The T-accounts for Equipment and the related Accumulated Depreciation- Equipment

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

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The T-accounts for Equipment and the related Accumulated Depreciation- Equipment for Luo Company at the end of 2017 are shown here.

In addition, Luo Company's income statement reported a loss on the disposal of equipment of $6,500. What amount was reported on the statement of cash flows as "cash flow from sale of equipment"?

Transcribed Image Text:

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

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Financial and Managerial Accounting

ISBN: 978-1118334263

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

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Question Posted: Aug 12, 2016 11:20 AM

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