BE14-7 The T accounts for Equipment and the related Accumulated Depreciation for
Pettengill Company at the end of 2008 are shown here.
Equipment Accumulated Depreciation
Beg. bal. 80,000 Disposals 22,000 Disposals 5,500 Beg. bal. 44,500
Acquisitions 41,600 Depr. exp. 12,000
End. bal. 99,600 End. bal. 51,000
In addition, Pettengill Company’s income statement reported a loss on the sale of equipment
of $5,500.What amount was reported on the statement of cash flows as “cash flow from sale of
equipment”?
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