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In addition, Carla Vista's income statement reported a loss on the sale of equipment of $1,690. What will be reported on the cash flow statement with regard to the sale of equipment if Carla Vista uses the indirect method? (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) Operating activities: Investing activities: :

In addition, Carla Vista's income statement reported a loss on the sale of equipment of $1,690. What will be reported on the cash flow statement with regard to the sale of equipment if Carla Vista uses the indirect method? (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) Operating activities: Investing activities: :

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The T accounts for equipment and the related accumulated depreciation for Carla Vista Corporation are as follows: Beg. bal. Purchases End, bal. Equipment Disposals 90,000 46,800 Disposals 109,800 27,000 Accumulated Depreciation-Equipment Beg. bal. 6,190 Depreciation End. bal. 50,100 13,500 57,410
Transcribed Image Text:The T accounts for equipment and the related accumulated depreciation for Carla Vista Corporation are as follows: Beg. bal. Purchases End, bal. Equipment Disposals 90,000 46,800 Disposals 109,800 27,000 Accumulated Depreciation-Equipment Beg. bal. 6,190 Depreciation End. bal. 50,100 13,500 57,410
In addition, Carla Vista's income statement reported a loss on the sale of equipment of $1,690. What will be reported on the cash flow statement with regard to the sale of equipment if Carla. Vista uses the indirect method? (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) Operating activities: Investing activities:
Transcribed Image Text:In addition, Carla Vista's income statement reported a loss on the sale of equipment of $1,690. What will be reported on the cash flow statement with regard to the sale of equipment if Carla. Vista uses the indirect method? (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) Operating activities: Investing activities:
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