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Prepare the investing activities section of statement

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Reference no: EM132381703

Question

Prepare the investing activities section of the statement of cash flows.

The following selected account balances relate to the plant asset accounts of Waihi Beach Surfboards Pty Ltd at year-end.

2018 2017

Accumulated depreciation-buildings $125 000  $100 000

Accumulated depreciation-equipment 100 000  97 500

Buildings 500 000   500 000

Depreciation expense 47 750  40 000

Equipment 200 000  177 500

Land 485 000  425 000

Gain on sale of equipment 3 000 -

Additional information:

In 2018, Waihi Beach Surfboards Pty Ltd purchased $50 000 of equipment and $60 000 of land for cash.

Waihi Beach Surfboards Pty Ltd also sold equipment in 2018. (Hint: Reconstruct the accumulated depreciation account to determine carrying value and then determine the proceeds from sale of equipment.)

The response paper should be in APA format, double spaced, hand-written, numbered pages, with a cover page and references.

Reference no: EM132381703

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