An analysis of the general ledger accounts indicates that office equipment, which cost $245,000 and on which accumulated depreciation totaled $112,500 on the date of sale, was sold for $105,900 during the year. Using this information, indicate the items to be reported on the statement of cash flows.
Transactions Section of Statement of Cash Flows Added or Deducted
$245,000 cost of office equipment
$112,500 accumulated depreciation
$105,900 sales price
$26,600 loss on sale of equipment
(assume the indirect method is used)
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An analysis of the general ledger accounts indicates that office equipment, which cost $245,000 and...
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