Reference no: EM132933797

Question - Cash Flows from Investing ActivitiesOpening balance of property, plant and equipment $500 000

Margaret River Ltd provides you with the following information about its property, plant and equipment:

Closing balance of property, plant and equipment $650 000

Depreciation expense for the year $50 000

Opening balance of accumulated depreciation $200 000

Closing balance of accumulated depreciation $210 000

Gain on sale of property, plant and equipment $20 000

Carrying value of property, plant and equipment that has been disposed of $90 000

REQUIRED - You are to determine how much cash has been received from the disposal of property, plant and equipment, and how much cash has been used to acquire property, plant and equipment throughout the year.