The following selected account balances relate to the property, plant, and equipment accounts of Crane Ltd.:...

 

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The following selected account balances relate to the property, plant, and equipment accounts of Crane Ltd.: Accumulated depreciation-buildings Accumulated depreciation-equipment Depreciation expense-buildings Depreciation expense-equipment Land Buildings Equipment Gain on disposal (equipment) Additional information regarding 2021: 2021 $338,000 149,000 30,000 67,000 100,000 730,000 310,000 4,000 2020 $308,000 100,000 30,000 49,000 68,000 730,000 255,000 0 1. Purchased $32,000 of land for cash. 2. Purchased $84,000 of equipment for a $14,000 down payment, financing the remainder with a bank loan. Equipment was also sold during the year. Calculate any cash receipts or payments related to the property, plant, and equipment accounts in 2021. The following selected account balances relate to the property, plant, and equipment accounts of Crane Ltd.: Accumulated depreciation-buildings Accumulated depreciation-equipment Depreciation expense-buildings Depreciation expense-equipment Land Buildings Equipment Gain on disposal (equipment) Additional information regarding 2021: 2021 $338,000 149,000 30,000 67,000 100,000 730,000 310,000 4,000 2020 $308,000 100,000 30,000 49,000 68,000 730,000 255,000 0 1. Purchased $32,000 of land for cash. 2. Purchased $84,000 of equipment for a $14,000 down payment, financing the remainder with a bank loan. Equipment was also sold during the year. Calculate any cash receipts or payments related to the property, plant, and equipment accounts in 2021.

Answer rating: 100% (QA)

Cash Flows Related to Property Plant and Equipment PPE in 2021 Cash Outflows L... View the full answer