The T accounts for Equipment and the related Accumulated Depreciation for Pettengill Company at the end of 2011 are shown here.
|
Equipment |
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|
Beg. bal. |
80,000 |
Disposals |
22,000 |
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|
Acquisitions |
41,600 |
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|
End. bal. |
99,600 |
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|
Accumulated Depreciation |
||||||
|
Disposals |
5,500 |
Beg. bal. |
44,500 |
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|
Depr. exp. |
12,000 |
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|
End. bal. |
51,000 |
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In addition, Pettengill Company’s income statement reported a loss on the sale of equipment
of $4,500.What amount was reported on the statement of cash flows as “cash flow from
sale of equipment”?