User Account

All Pages

What is the cash flow amount resulting from the sale

Assignment Help Accounting Basics
Reference no: EM133164468

Question - Lockspot Inc. purchased a machine for $125,000 on January 1, 2008. The estimated useful life was 10 years and the salvage value was $5,000. On January 1, 2016, Lockspot sells the machine, reporting a gain of $3,000.

Required -

a. What is the book value of the machine on the date of sale?

b. What is the cash flow amount resulting from the sale?

Reference no: EM133164468

Questions Cloud

Diminishing spending and expanding charges : The Keynesian perspective on financial aspects recommends that expanding government spending and diminishing the pace of charges are the most ideal ways to impa
Identify the pricing strategy you think company : Identify the pricing strategy you think the company used (based on the Required Unit Resources), and explain why you think they made their decision.
What is prema profit : Prema purchased 27 ounces of gold in 2005 for $464 per ounce in order to try to diversify her investment portfolio. What is Prema's profit in 2009 and 2010
Different pricing methods to choose pricing strategy : Compare and contrast different pricing methods to choose a pricing strategy
What is the cash flow amount resulting from the sale : The estimated useful life was 10 years and the salvage value was $5,000. What is the cash flow amount resulting from the sale
Determine the extent of the damage to the eye : Discuss the options available to a Defendant as per the response pack including time limits and procedures and Critically analyse what differences
Discuss the requirements of assessment task : Discuss the requirements of this assessment task with your supervisor. Ask you supervisor to assist you with finding a client with complex needs who you will be
What amount of cash and cash equivalents will company report : The following are selected items listed in the 12/31/x2 trial balance for Pearsall Company. What amount of cash and cash equivalents will Company report
Make purchase from business with less than two stars : Would you make a purchase from a business with less than two stars? Why, or why not? Would you not make a purchase from a business with more than four stars?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Prepare journal entries for twenty times two concerning data

Prepare all journal entries for 20 times 2 concerning the following data for a medical clinic that performs elective laser surgery that corrects vision.

  Question 24 figure 4-6 xeller company makes electronic

question 24 figure 4-6. xeller company makes electronic keyboards. the practice model price is 220 and variable

  Calculated the depreciation on photography equipment

Calculated the depreciation on photography Equipment using straight line method over 5 years with $0 estimated residual value.

  Expected cash receipts from current and past sales

Assume that total sales for January are budgeted to be $50,000. What are the expected cash receipts for January from the current and past sales?

  Compute the direct materials efficiency variance

Standard price times actual amount of materials used $ 229,900. Compute the direct materials efficiency variance

  Determine the amount of factory labor costs transferred to

material usagejob

  Which may be permanently restricted or limited by the board

Which may be permanently restricted or limited by the Board? The California State Board of Accountancy may impose permanent license restrictions on a licensee.

  Classify charges associated with the cellular phone service

Flexible and Committed Resources, Capacity Usage for a Service Jana Morgan is about to sign up for cellular telephone service.

  Management process with a focus

For this final assignment, you are to create a PowerPoint Presentation that discusses the project management process with a focus on effectiveness and ways teams can prevent some ofthe pitfalls to a project. Here is an outline of items youshould a..

  What is the hospital corporate cost of capital

Its cost of equity (fund capital) estimate is 13.5 percent and its cost of tax-exempt debt estimate is 7 percent. What is hospital's corporate cost of capital

  Compute the basic earnings per share

Assume that the following data relative to Kane Company for 2016 is available: Compute the basic earnings per share for 2016. (Round to the nearest penny.)

  What is the carrying amount of the accounts payable on Dec

On Nov 1, 2020, an entity acquired on account goods from a foreign supplier at a cost of $1,000. What is the carrying amount of the accounts payable on Dec

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd