Question: On July 15 2013 M W Morgan Distribution sold land for
On July 15, 2013, M.W. Morgan Distribution sold land for $35 million that it had purchased in 2008 for $22 million. What would be the amount(s) related to the sale that Morgan would report in its statement of cash flows for the year ended December 31, 2013, using the direct method? The indirect method?
Answer to relevant QuestionsOn January 1, 2013, Beilich Enterprises bought 20% of the outstanding common stock of Wolfe Construction Company for $600 million cash. Wolfe’s net income for the year ended December 31, 2013, was $300 million. During ...The comparative balance sheets for 2013 and 2012 and the statement of income for 2013 are given below for Dux Company. Additional information from Dux’s accounting records is provided also.(Continue to next ...On December 31, 2013, the end of the fiscal year, California Microtech Corporation completed the sale of its semiconductor business for $10 million. The business segment qualifies as a component of the entity according to ...The preliminary 2013 income statement of Alexian Systems, Inc., is presented below:ALEXIAN SYSTEMS, INC.Income StatementFor the Year Ended December 31, 2013($ in millions, except earnings per share)Revenues and gains:Net ...Assume that Amazon.com sells the MacBook Pro, a computer brand produced by Apple. Amazon arranges its operations such that customers receive products from Apple Stores rather than Amazon. Customers purchase from Amazon using ...
Post your question