Compute the amounts to be shown as cash flows

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Question - The T accounts for plant assets and accumulated depreciation for Street Company at the end of 2014 follow

Plant Assets

 

Accumulated Depreciation

Dr.

Cr.

 

Dr.

Cr.

Beg. Bal.

130,000

Disposals

46,000

 

Disposals

29,400

Beg. Bal.

69,000

Purchases

67,200

 

 

 

 

 

Depreciation

20,400

End. Bal.

151,200

 

 

 

 

 

End Bal.

60,000

In addition, Street's income statement shows a gain on sale of plant assets of $8,800. Compute the amounts to be shown as cash flows from investing activities, and show how they appear on the statement of cash flows.

Reference no: EM131639817

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