User Account

All Pages

What amount was reported on the statement of cash flows

Assignment Help Accounting Basics
Reference no: EM132620007

Question - The T-accounts for Equipment and the related Accumulated Depreciation-Equipment for Luo Company at the end of 2020 are shown here.

Equipment

Beg. bal. 84,500

Disposals 20,700

Acquisitions 39,500

End. bal. 103,300

Accumulated Depreciation-Equipment

Disposals 9,000

Beg. bal. 43,800

Depr. exp. 13,900

End. bal. 48,700

In addition, Luo's income statement reported a loss on the disposal of plant assets of $6,100. What amount was reported on the statement of cash flows as "cash flow from sale of equipment"?

Reference no: EM132620007

Questions Cloud

How data plays a key role in social media : First, try to come up with your own predictions and also add overall your reflection on what you learned about Social Media Analytics after watching this video.
Prepare cash flow statement for operating activities : Depreciation Expense for the Year Ended December 31, 2019, $20,000. Prepare cash flow statement for operating activities for year 2019
What is the appropriate balance for allowance for doubtful : Larkspur Corporation operates in an industry, What is the appropriate balance for Allowance for Doubtful Accounts at year-end?
Explain the steps in changing conflict cultures : Describe the current culture of conflict. Identify and explain the steps in changing conflict cultures.
What amount was reported on the statement of cash flows : In addition, Luo's income statement reported a loss on the disposal of plant assets of $6,100. What amount was reported on the statement of cash flows
Prepare journal entry for asset disposal in the fourth year : Assume the company sold the vehicles at the end of the fourth year for $50,000. Prepare a journal entry for asset disposal in the fourth year.
Servant leader and a traditional power leader : What do you think is the difference between a servant leader and a traditional power leader? Please explain.
Explain how big data analytics can be used with smart cities : How Big Data analytics can be used with Smart Cities. This is exciting and can provide many benefits to individuals as well as organizations.
What would have been the initial entry by both parties : What would have been the initial entry(ies) (provide the entry(ies)) by both parties if the lease agreement provided for a guaranteed residual value?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Alatorre purchased the license for distribution of a

alatorre purchased the license for distribution of a popular consumer product on january 1 2014 for 141300. it is

  Prepare a schedule to show the differential costs

Mel's Meals 2 Go purchases cookies that it includes in the 10,000 box lunches, Prepare a schedule to show the differential costs

  In which stage of the industry life cycle would you place

In which stage of the industry life cycle would you place the following industries? Oil well equipment Computer hardware Computer software Genetic engineering Railroad

  Using the fifo method compute the cost of the units

data concerning a recent periods activity in the assembly department the first processing department in a company that

  How is it reported on the balance sheet this year

If a company has a long-term loan that has only two years remaining until it matures, how is it reported on the balance sheet (a) This year and (b) Next year?

  Calculate the contribution margin per unit

Gardner Manufacturing Company produces a product that sells for $120. The contribution margin per unit is

  Acquisition report to promote the decision for buying

I am writing an acquisition report to promote the decision for buying a smaller computer company by a larger one. The audience will be the board of the larger computer company.

  Prepare in general journal form the entries necessary

Prepare in general journal form the entries necessary in the consolidated statements workpapers for the years ended December

  Supposed that jolie believes that the

brad jolie recently decided to open a restaurant specializing in new orleans cuisine. he purchased a restaurant

  Western outfitters mountain sports projected 2008 sales of

western outfitters mountain sports projected 2008 sales of 75000 units at a unit price of 12.00. actual 2008 sales were

  Prepare journal entries to record the issuance of the bonds

AAA issued 2,000, $1,000 bonds at 105. Each bond was issued with one detachable stock warrant. Prepare journal entries to record the issuance of the bonds

  Determining expected purchase price

A company, which sells two different models of an item, finds 65% of its customers buy the cheaper model, for $95. The remaining 35% of the customers pay $125 for the more expensive model. What is the expected purchase price?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd