Equipment that cost $879000 and had a book value of $394000 was sold for $455000. Data from the comparative balance sheets are:   12/31/21 12/31/20 Equipment $5300000 $4869000 Accumulated Depreciation 1640000 1450000

The T-accounts for Equipment and the related Accumulated Depreciation-Equipment for Sheffield Company at the end of 2022 are shown here. Equipment Beg. bal. 79,800 Disposals 23,700 Acquisitions 37,400 End. bal. 93,500 Accumulated Depreciation-Equipment Disposals 5,200 Beg, bal 44,500 Depr. exp. 12.200 End, bal 51.500 In addition, Sheffield's income statement reported a loss on the disposal of plant assets of $4,000. What amount was reported on the statement of cash flows as "cash flow from sale of equipment"? (Show amount that decrease cash flow with either a-sign eg-15,000 or in parenthesis eg. (15,000)) Cash flow from sale of equipment S

A purchase of equipment for $21100 also involves freight charges of $470 and installation costs of $2930. The estimated salvage value and useful life are $2280 and 5 years, respectively. Under the straight-line method, how much is annual depreciation expense? $4209 O $3855 $4444 O $4325

A fixed asset with a cost of $33,769.00 and accumulated depreciation of $30,392.10 is sold for $5,740.73. What is the amount of the gain or loss on disposal of the fixed asset? Select the correct answer. $2,363.83 gain $2,363.83 loss $3,376.90 loss $3,376.90 gain

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. 80,600 Disposals 23,800 Acquisitions 40,000     End. bal. 96,800     Accumulated Depreciation—Equipment Disposals 8,700 Beg. bal. 47,800     Depr. exp. 13,300     End. bal. 52,400 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”? (Show amount that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Cash flow from sale of equipment   $

M1

The following data relate to the Machinery account of Wildhorse, Inc. at December 31, 2025. Original cost Year purchased Useful life Salvage value Depreciation method Accum. depr. through 2025* a. Cash A Machinery (Machine A) $54,280 2020 15,340 10 years $3,658 Sum-of-the-years'-digits $36,816 B 15,340 $60,180 2021 Machinery 15,000 hours $3,540 Activity $41,536 C $94,400 2022 15 years $5,900 Straight-line $17,700 D $94,400 *In the year an asset is purchased, Wildhorse, Inc. does not record any depreciation expense on the asset. In the year an asset is retired or traded in, Wildhorse, Inc. takes a full year's depreciation on the asset. The following transactions occurred during 2026. 2024 10 years $5,900 On May 5, Machine A was sold for $15,340 cash. The company's bookkeeper recorded this retirement in the following manner in the cash receipts journal. Double-declining balance $18,880

Bruce Company acquired a machinery on April 1, 2020. Cost                               P 1,200,000 Residual Value               P 120,000 Estimated Useful Life    8 years   What is the depreciation for 2020 using straight line depreciation?     A. P150,000 B. P101,250 C. P112,500 D. P125,000   What is the carrying amount of the machinery on December 31, 2022 using straight line depreciation?   A. P750,000 B. P817,500 C. P828,750 D. P780,000

A fixed asset with a cost of $31,304 and accumulated depreciation of $28,173.60 is sold for $5,321.68. What is the amount of the gain or loss on disposal of the fixed asset?

Complete the table