Undo Clipboard 00 Formatas Cell Formatting Table Styles Insert Delete Font Alignment Number Styles Cell...
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Undo Clipboard 00 Formatas Cell Formatting Table Styles Insert Delete Font Alignment Number Styles Cell H 128 VIX fx AB D E F G Equipment Disposals PROBLEM The T accounts for equipment and accumulated depreciation for Trevis Ltd. are shown P 1 K M M N Required: Provide input into cells shaded in yellow in this template. Use mathematical formulas with cell references to the Problem area and work area as indicated. a. What amount was reported on the statement of cash flows as "cash provided by disposal of equipment"? Hint: Prepare the journal entry to determine the effects of the sale. Debit Credit Cash provided by disposal of equipment Equipment 0 Jan. 1 80,000 1 Acquisition 40,000 2 Disposals 20,000 3 Dec. 31 100,000 4 15 Accumulated Depreciation Equipment 16 Jan. 1 44,500 17 Depreciation 20,000 18 Disposals 5,500 19 Dec. 31 59,000 20 21. In addition, Trevis's statement of income reported the following 22 amount. 23 -24 Loss on disposal of equipment $ 1.500 25 26 27 28 29 30 31 32 Enter Answer b. In what section of the statement of cash flows would the effects of this disposal transaction be reported? Reported as an operating activity Reported as an investing activity Reported as a financing activity Ready -10C o BI Type here to search
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