Reference no: EM132406497
Question
Margaret Rvier PTy Ltd provides you with the following inforation about its property, plant and equipment
opening balance of property, plant and equipment : 500000
closing balance of property plant and equipment : 650000
Depreciation expense for the year: 50000
opening balance of accumulated depreciation: 200000
closing balance of accumulated depreciation: 210000
gain on sale of property, plant and equipment : 20000
carrying value of property, plant and equipment that has been disposed of : 90000
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.
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