Question

Myancor Corp. had the following balances in its Equipment and Accumulated Depreciation-Equipment accounts at the beginning and end of 2009.
March 9 Purchased new equipment for $120,000.
July 16 Sold equipment that originally cost $60,000 and had a current book value of $24,000 for $49,500.
Required:
(a) How much depreciation expense did Myancor Corp. record on its equipment during 2009?
(b) Indicate how Myancor’s depreciation expense and its transactions involving equipment would appear in the company’s 2009 statement of cash flows, assuming the company uses the indirect method of preparing a statement of cash flows.


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  • CreatedMarch 27, 2015
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