Equipment transaction and cash flow reporting

Assignment Help Accounting Basics

Reference no: EM13756144

Dec. 31, 19X4
Dec. 31, 19X3
Land
$94,000
$94,000
Equipment
652,000
527,000
Less: Accumulated depreciation
-316,000
-341,000

a. Determine the cost and accumulated depreciation of the equipment sold during 19X4.
b. Determine the selling price of the equipment sold.
c. Show how the sale of equipment would appear on a statement of cash flows prepared by using the indirect method.

Reference no: EM13756144

Questions Cloud

Prepare journal entries to record the issuance : Prepare journal entries to record the issuance of 100,000 shares of common stock at $20 per share for each of the following independent cases:

Is anything still unclear that could be clarified : What were the most compelling topics learned in course - How did participating in discussions help your understanding of the subject matter?

Discuss reasons behind nibcos decision : Case Study- NIBCO's "Big Bang": An SAP Implementation, Discuss reasons behind NIBCO's decision to implement an ERP system

Describe at least two ways the reconstruction period : Describe at least two ways the Reconstruction period may have been different if President Lincoln had not been assassinated.

Equipment transaction and cash flow reporting : Determine the cost and accumulated depreciation of the equipment sold during 19X4. Determine the selling price of the equipment sold.

What stage of career development are you currently : What stage of career development are you currently in - what do you want your future career to be and what do you still need to do or learn to progress through your current stage?

Overview of direct and indirect methods : Evaluate the comments that follow as being true or false. If the comment is false, briefly explain why.

Classification of activities : Classify each of the following transactions as arising from an operating (O), investing (I), financing (F), or noncash investing/financing (N) activity.

Exchange of common stock for a building : Why are noncash transactions, such as the exchange of common stock for a building, included on a statement of cash flows? How are these noncash transactions disclosed?

User Account

All Pages