Blueridge Manufacturing sold equipment with a cost of $75,000 and accumulated depreciation of $45,000 for an amount that resulted in a loss of $8,000. What amount should Blueridge Manufacturing report on the statement of cash flows as proceeds from sale of equipment?

Blueridge Manufacturing sold equipment with a cost of $75,000 and accumulated depreciation of $45,000 for an amount that resulted in a loss of $8,000. What amount should Blueridge Manufacturing report on the statement of cash flows as proceeds from sale of equipment?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter21: The Statement Of Cash Flows

Section: Chapter Questions

Problem 3GI: Thompson Company sold a piece of equipment that had an original cost of 22,000 and a carrying value...

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Please provide the answer to this general accounting question using the right approach.

Blueridge Manufacturing sold equipment with a cost of $75,000 and
accumulated depreciation of $45,000 for an amount that resulted in
a loss of $8,000. What amount should Blueridge Manufacturing
report on the statement of cash flows as proceeds from sale of
equipment?

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