The T-accounts for Equipment and the related Accumulated Depreciation-Equipment

Question

The T-accounts for Equipment and the related Accumulated Depreciation-Equipment for Marigold Corp. at the end of 2019 are shown here. Beg. bal Acquisitions End. bal Equipment 76,000 Disposals 40 92,3 24,100 Disposals 8,100 Beg. bal Depr. exp End. bal 42,800 13,100 47,800 In addition, Mangold Corp.'s income statement reported a loss on the disposal of plant assets of $6,400. what amount was reported on the statement of cash flows as "cash flow from sale of equipment"? (Show an amount 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

Explanation / Answer

Cash flow from sale of equipment                  9,600.00 Dear Student Thank you for using Chegg Please find below the answer and please give thumbs up   Statementshowing Computations Paticulars Amount Gross Book value of Equipment                24,100.00 Less Accumulated Depreciation                (8,100.00) Less Loss on Sale                (6,400.00) Cash flow from sale of equipment                  9,600.00

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