The T-accounts for Equipment and the related Accumulated Depreciation—Equipment for Bonita Company at the end of...
The T-accounts for Equipment and the related Accumulated Depreciation—Equipment for Bonita Company at the end of 2022 are shown here. Equipment Beg. bal. 72,000 Disposals 19,800 Acquisitions 37,440 End. bal. 89,640 Accum. Depr.—Equipment Disposals 4,590 Beg. bal. 40,050 Depr. exp. 10,800 End. bal. 46,260 In addition, Bonita Company’s income statement reported a loss on the disposal of plant assets of $3,150. 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 $enter cash flow from sale of equipment in dollars
Homework Answers
Answer :- Calculation of the Cash Flow from sale of Equipment:-
Book value of Equipment = Disposal of assets cost - Accumulated Depreciation
Book value of Equipment = $19,800 - $4,590 = $15,210
Cash flow from sale of equipment = Book value of equipment - loss on disposal
Cash flow from sale of equipment = $15,210 - $3,150 = $12,060
So the Cash Flow from sale of equipment will be $12,060.
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The T-accounts for Equipment and the related Accumulated
Depreciation—Equipment for Bonita Company at the end of...
The T-accounts for Equipment and the related Accumulated Depreciation—Equipment for Oriole Company at the end of...
The T-accounts for Equipment and the related Accumulated
Depreciation—Equipment for Oriole Company at the end of 2017 are
shown here.
Equipment
Beg. bal.
230,560
Disposals
63,404
Acquisitions
119,891
End. bal.
287,047
Accum. Depr.—Equipment
Disposals
14,698
Beg. bal.
128,249
Depr. exp.
34,584
End. bal.
148,135
In addition, Oriole Company’s income statement reported a loss
on the disposal of plant assets of $10,087. What amount was
reported on the statement of cash flows as “cash flow from sale of
equipment”? (Show amounts...
The T-accounts for Equipment and the related Accumulated Depreciation-Equipment for Swifty Corporation at the end of...
The T-accounts for Equipment and the related Accumulated Depreciation-Equipment for Swifty Corporation at the end of 2017 are shown here. Equipment 195,440 Disposals 101,629 243,323 53,746 Beg. bal. Acquisitions End. bal. Accum. Depr.-Equipment 12,459 Beg. bal. Depr. exp Disposals 108,714 29,316 End. bal. 125,571 In addition, Swifty Corporation's income statement reported a loss on the disposal of plant assets of $8,551. What amount was reported on the statement of cash flows as "cash flow from sale of equipment"? (Show amounts...
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Brief Exercise 12-7 Your answer is incorrect. Try again. The T-accounts for Equipment and the related...
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3 Questions, Help ! Brief Exercise 17-07 x Your answer is incorrect. Try again. The T-accounts...
3 Questions, Help !
Brief Exercise 17-07 x Your answer is incorrect. Try again. The T-accounts for Equipment and the related Accumulated Depreciation-Equipment for Luo Company at the end of 2020 are shown here. 22,700 Equipment Beg. bal. 82,400 Disposals Acquisitions 36,500 End. bal. 96,200 Accumulated Depreciation Equipment Disposals 8,500 Beg. bal. Depr. exp. End. bal. 46,800 13,000 51,300 In addition, Luo's income statement reported a loss on the disposal of plant assets of $6,100. What amount was reported on...
Brief Exercise 13-6 a-b (Part Level Submission) The T accounts for equipment and accumulated depreciation for...
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The T-accounts for Equipment and the related Accumulated
Depreciation—Equipment for Oriole Company at the end of 2017 are
shown here.
Equipment
Beg. bal.
230,560
Disposals
63,404
Acquisitions
119,891
End. bal.
287,047
Accum. Depr.—Equipment
Disposals
14,698
Beg. bal.
128,249
Depr. exp.
34,584
End. bal.
148,135
In addition, Oriole Company’s income statement reported a loss
on the disposal of plant assets of $10,087. What amount was
reported on the statement of cash flows as “cash flow from sale of
equipment”? (Show amounts...
The T-accounts for Equipment and the related Accumulated Depreciation-Equipment for Swifty Corporation at the end of 2017 are shown here. Equipment 195,440 Disposals 101,629 243,323 53,746 Beg. bal. Acquisitions End. bal. Accum. Depr.-Equipment 12,459 Beg. bal. Depr. exp Disposals 108,714 29,316 End. bal. 125,571 In addition, Swifty Corporation's income statement reported a loss on the disposal of plant assets of $8,551. What amount was reported on the statement of cash flows as "cash flow from sale of equipment"? (Show amounts...
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Brief Exercise 12-7 The T-accounts for Equipment and the related Accumulated Depreciation-Equipment for Crane Company at the end of 2017 are shown here Beg. bal. -20 End, ball Equipment 235,200 Disposals 122,304 292,824 Accum. Depr.-Equipment 14,994 Beg. bal. Depr. exp End. bal. Disposals 130,830 35,280 151,116 Study In addition, Crane Company's income statement reported a loss on the disposal of plant assets of $10,290. What amount was reported on the statement of cash flows as "cash flow from sale of...
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3 Questions, Help !
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