The T-accounts for Equipment and the related Accumulated Depreciation-Equipment for Oriole Company at the end...

50.1K

Verified Solution

Question

Accounting

The T-accounts for Equipment and the related Accumulated Depreciation-Equipment for Oriole Company at the end of 2022 are shown here.
\table[[Equipment],[Beg. bal.,75,600,Disposals,21,800],[Acquisitions,45,500,,],[End. bal.,99,300,,],[Accumulated,Depreciation-Equipment,,],[Disposals,5,000,Beg. bal.,44,700],[,,Depr. exp.,11,500],[,End. bal.,51,200,]]
In addition, Oriole Company's income statement reported a loss on the disposal of plant assets of $4,000. What amount was reported on the statement of cash flows as "cash flow from sale of equipment"? (Show an amount that decrease cash flow with either a- sign e.g.-15,000 or in parenthesis e.g.(15,000).)
Cash flow from sale of equipment $
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students