The T accounts for equipment and the related accumulated depreciation for Oriole Corporation are as follows: Equipment Beg. bal. 80,000 Purchases 41,600 Disposals 24,290 End. bal. 97,310 Accumulated Depreciation—Equipment Beg. bal. 44,500 Disposals 5,090 Depreciation 12,500 End. bal. 51,910 In addition, Oriole’s income statement reported a loss on the sale of equipment of $1,750. What will be reported on the cash flow statement with regard to the sale of equipment if Oriole uses the indirect method? (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Operating activities: $ Investing activities: $
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The net book value is the original cost of the equipment minus the accumulated depreciation. Net Book Value = Beg. bal. of Equipment - Beg. bal. of Accumulated Depreciation Net Book Value = $80,000 - $44,500 Net Book Value = $35,500 Show more…
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The income statement of Oriole Company is presented here. ORIOLE COMPANY Income Statement For the Year Ended November 30, 2022 Sales revenue $7,521,200 Cost of goods sold Beginning inventory $1,952,100 Purchases 4,478,700 Goods available for sale 6,430,800 Ending inventory 1,749,300 Total cost of goods sold 4,681,500 Gross profit 2,839,700 Operating expenses Selling expenses 447,000 Administrative expenses 698,200 1,145,200 Net income $1,694,500 Additional information: 1. Accounts receivable decreased $403,600 during the year, and inventory decreased $202,800. 2. Prepaid expenses increased $173,600 during the year. 3. Accounts payable to suppliers of inventory decreased $330,900 during the year. 4. Accrued expenses payable decreased $106,500 during the year. 5. Administrative expenses include depreciation expense of $100,100. What is the Cash Payment for Operating expenses?
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Oriole Lawn Service Company reported a net loss of $12500 for the year ended December 31, 2025. During the year, accounts receivable decreased $33900, inventory increased $18500, accounts payable increased by $34900, and depreciation expense of $25800 was recorded. During 2025, operating activities provided net cash of $63600. provided net cash of $79200 used net cash of $24500. used net cash of $63600.
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Bryant Company reports net income of $23,800. For the year, depreciation expense is $10,800 and the company reports a gain of $6,800 from the sale of machinery. It also had a $5,800 loss from the retirement of notes. Compute cash flows from operations using the indirect method. (Amounts to be deducted should be indicated by a minus sign.) Cash Flows from Operating Activities (Indirect) Net income Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Depreciation expense Gain on the sale of machinery $23,800 $10,800 ($6,800) $5,800 Loss on retirement of notes $33,600
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