The T-accounts for Equipment and the related Accumulated Depreciation-Equipment for Pharoah Company at the end of 2017 are shown here. Equipment Beg. bal. Acquisitions 207,760 Disposals 57,134 108,035 End. bal. 258,661 Accum. Depr.-Equipment 13,245 Beg. bal. Depr. exp. Disposals 115,567 31,164 End. bal. 133,486 In addition, Pharoah Company's income statement reported a loss on the disposal of plant assets of $9,090. What amount was reported on the statement of cash flows as "cash flow from sale of equipment"? (Show amounts 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
The T-accounts for Equipment and the related Accumulated Depreciation-Equipment for Pharoah Company at the end of 2017 are shown here. Equipment Beg. bal. Acquisitions 207,760 Disposals 57,134 108,035 End. bal. 258,661 Accum. Depr.-Equipment 13,245 Beg. bal. Depr. exp. Disposals 115,567 31,164 End. bal. 133,486 In addition, Pharoah Company's income statement reported a loss on the disposal of plant assets of $9,090. What amount was reported on the statement of cash flows as "cash flow from sale of equipment"? (Show amounts 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
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter7: Operating Assets
Section: Chapter Questions
Problem 6MCQ: Refer to the information for Cox Inc. above. What amount would Cox record as depreciation expense...
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