Question: A building cost 55 000 and had accumulated depreciation of 15 000
A building cost $55,000 and had accumulated depreciation of $15,000 when it was sold for a gain of $5,000. It was a cash sale. How much cash was collected from this transaction and how would it be classified on the statement of cash flows?
Answer to relevant QuestionsSales for 2010 were $50,000; cost of goods sold was $35,000. If accounts receivable increased by $2,000; inventory decreased by $1,300; accounts payable decreased by $2,000; and other accrued liabilities decreased by $1,000, ...Supply, Inc., had $125,000 of retained earnings at the beginning of the year and a balance of $150,000 at the end of the year. Net income for the year was $80,000. What caused the change in the retained earnings balance? ...B&W, Inc., reported net income of $1.2 million in 2011. Depreciation for the year was $120,000; accounts receivable increased $728,000; and accounts payable decreased $420,000. Compute net cash provided by operating ...Use the information given for Very Heavenly Desserts, Inc., to calculate the following:a. Cash paid for salariesb. Cash paid for income taxesc. Cash paid for inventory itemsd. Cash collected from customerse. Cash proceeds ...The following information has been taken from the most recent statement of cash flows of Expansion Company:Net cash used by operating activities ..... $ (932,000)Net cash provided by investing activities ..... $1,180,500Net ...
Post your question