An analysis of the general ledger accounts indicates that delivery equipment, which cost $96,000 and on which
Question:
An analysis of the general ledger accounts indicates that delivery equipment, which cost $96,000 and on which accumulated depreciation totaled $42,100 on the date of sale, was sold for $46,500 during the year. Using this information, indicate the items to be reported on the statement of cashflows.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 68% (22 reviews)
Loss on sale is added to net income for 7400 Depreciation is added ba...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
Question Posted:
Students also viewed these Accounting questions
-
An analysis of the general ledger accounts indicates that office equipment, which cost $67,000 and on which accumulated depreciation totaled $22,500 on the date of sale, was sold for $38,600 during...
-
An analysis of the transactions for S. Moses & Co., was presented in E. Instructions Prepare and income statement and a retained earnings statement for August and a statement of financial position at...
-
An analysis of the general ledger accounts indicates that delivery equipment, which cost $200,000 and on which accumulated depreciation totaled $60,000 on the date of sale, was sold for $132,500...
-
Tort cases are so common that it is likely you or someone you know has been involved in a tort case. If so, share what the case was about, what the outcome was, and how you felt about the case and...
-
List the three requirements for repeated trials of an experiment to constitute Bernoulli trials.
-
Two inhibitors of the same enzyme, inhibitor A and inhibitor B, were investigated to discover if they were competitive or non-competitive. In order to do this, the rate of reaction of the enzyme was...
-
Consider a random walk \(\left\{y_{t} ight\}\) as the partial sum of a white noise process \(\left\{c_{t} ight\}\). a. Show that the \(l\)-step forecast error is...
-
1. Take a poll of your class (at least, the Gen-X and Gen-Y members). At school or work, how many regularly (e.g., daily or every few days) send or receive information (not entertainment) using (a)...
-
a. What are the three main external sources of funds for any firm? (3 marks) b. i) ii) What are the two main segments of the international bond market? (1 mark) Which of the two main segments is less...
-
Mr. Williams, the owner of Williams Produce, wants to maintain control over accounts receivable. He understands that days sales in receivables and accounts receivable turnover will give a good...
-
The board of directors declared cash dividends totaling $152,000 during the current year. The comparative balance sheet indicates dividends payable of $42,000 at the beginning of the year and $38,000...
-
On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cashflows: ACCOUNT Land ACCOUNT NO. Balance Debit Credit Debit Credit Date Item...
-
If |X|r < (, then show that |B X|r ( B |X|r a.s., r ( 1. One way to establishing this inequality is to use the Jensen inequality (Theorem 8). For this purpose, take g(x) = |X|r, r ( 1, and observe...
-
What are term insurance, whole life insurance, variable life insurance, universal life insurance, and survivorship insurance?
-
What are tools and responsibilities of the Fed in monitoring and affecting the level of the stock market?
-
Briefly describe the following in the context of mutual funds: a. supermarket b. wrap program c. segregated managed accounts d. family of funds
-
What is a plan sponsor?
-
Suppose that a corporation is considering using an interest rate swap in conjunction with the offering of a floating-rate bond issue. That is, the corporation wants to use the swap to change the...
-
How would the figures in Table 9.5 change if the company had paid 1,200 on 1 September rather than 1 October? Table 9.5 Spreadsheet recording prepayment of insurance at the financial year-end date...
-
Based on the scenario described below, generate all possible association rules with values for confidence, support (for dependent), and lift. Submit your solutions in a Word document (name it...
-
Find the derivative using either method of Example 8. (x) = e xx EXAMPLE 8 Differentiate (for x > 0): (a) f(x)=x* and (b) g(x)=xsin.x
-
Arness Woodcrafters sells $250,000 of receivables to Commercial Factors, Inc. on a with recourse basis. Commercial assesses a finance charge of 5% and retains an amount equal to 4% of accounts...
-
Arness Woodcrafters sells $250,000 of receivables to Commercial Factors, Inc. on a with recourse basis. Commercial assesses a finance charge of 5% and retains an amount equal to 4% of accounts...
-
Arness Woodcrafters sells $250,000 of receivables to Commercial Factors, Inc. on a with recourse basis. Commercial assesses a finance charge of 5% and retains an amount equal to 4% of accounts...
-
= Suppose f(z) is analytic for |z| < 3. If |(z)| 1, and (i) (1) = 0, what is the maximum value of |f(0)|? For which func- tions is the maximum attained?
-
Determine if the following equations can be solved by separation of variables, and if they are, it solves the problems. 1. 5x7dy+9xy5 = 0 dx 2. -xe +y=0 3. 5xy'-11y = 0 Graph both equations, the...
-
4. Write as a single power, then evaluate. Express answers in rational form. a) V55 -16 b) c) 284 7 18 (9) d) 2
Study smarter with the SolutionInn App