The T accounts for equipment and accumulated depreciation for Pharoah Ltd. are shown here: Equipment Beg. bal. 86,000 Disposals 21,000 Acquisitions 42,000 End bal. 107,000 Accumulated Depreciation-Equipment Disposals 5,700 Beg. bal. 44,900 Depreciation 20,400 End bal. 59,600 In addition, Pharoah’s income statement reported a $1,600 loss on the disposal of equipment. What amount was reported on the statement of cash flows as “cash provided by disposal of equipment”? Cash provided by disposal of equipment $Enter the amount of cash provided by disposal of equipment
The T accounts for equipment and accumulated depreciation for Pharoah Ltd. are shown here: Equipment Beg. bal. 86,000 Disposals 21,000 Acquisitions 42,000 End bal. 107,000 Accumulated Depreciation-Equipment Disposals 5,700 Beg. bal. 44,900 Depreciation 20,400 End bal. 59,600 In addition, Pharoah’s income statement reported a $1,600 loss on the disposal of equipment. What amount was reported on the statement of cash flows as “cash provided by disposal of equipment”? Cash provided by disposal of equipment $Enter the amount of cash provided by disposal of equipment
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The T accounts for equipment and accumulated depreciation for Pharoah Ltd. are shown here:
In addition, Pharoah’s income statement reported a $1,600 loss on the disposal of equipment.
| Equipment | |||
|---|---|---|---|
| Beg. bal. | 86,000 | Disposals | 21,000 |
| Acquisitions | 42,000 |
|
|
| End bal. | 107,000 |
|
| Accumulated Depreciation-Equipment | |||
|---|---|---|---|
| Disposals | 5,700 | Beg. bal. | 44,900 |
|
|
|
Depreciation | 20,400 |
|
|
End bal. | 59,600 |
In addition, Pharoah’s income statement reported a $1,600 loss on the disposal of equipment.
What amount was reported on the statement of cash flows as “cash provided by disposal of equipment”?
| Cash provided by disposal of equipment | $Enter the amount of cash provided by disposal of equipment |
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