The following selected account balances relate to the plant asset accounts of Venable Inc. at year-end.

Additional information:
1. Venable purchased $90,000 of equipment and $30,000 of land for cash in 2010.
2. Venable also sold equipment in 2010.
3. Depreciation expense in 2010 was $37,500 on building and $64,000 on equipment.
Instructions
(a) Determine the amounts of any cash inflows or outflows related to the plant asset accounts in 2010.
(b) Indicate where each of the cash inflows or outflows identified in (a) would be classified on the statement of cashflows.

Transcribed Image Text:

2010 $337,500 144,000 750,000 101,500 300,000 100,000 2009 Accumulated depreciation-buildings Accumulated depreciation-cquipment Buildings Depreciation expense Equipment Land Loss on sale of cquipment $300,000 96,000 750,000 85,500 240,000 70,000 0 6,000