Question - The T accounts for plant assets and accumulated depreciation for Street Company at the end of 2014 follow
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Plant Assets
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|
Accumulated Depreciation
|
|
Dr.
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Cr.
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|
Dr.
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Cr.
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Beg. Bal.
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130,000
|
Disposals
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46,000
|
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Disposals
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29,400
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Beg. Bal.
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69,000
|
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Purchases
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67,200
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|
|
|
|
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Depreciation
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20,400
|
|
End. Bal.
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151,200
|
|
|
|
|
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End Bal.
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60,000
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In addition, Street's income statement shows a gain on sale of plant assets of $8,800. Compute the amounts to be shown as cash flows from investing activities, and show how they appear on the statement of cash flows.