Information related to capital assets is provided for three cases:

Required:

For each case, indicate the items and amounts that would appear on the SCF, along with their classification. Assume that the operating activities section reflects the indirect presentation format. Assume that unexplained account changes result from logical transactions.

Transcribed Image Text:

Case A 20X2 20X1 Capital assets $660,000 $640,000 Accumulated depreciation (340,000) (380,000) 320,000 260,000 The company sold an asset with an original cost of $120,000 at a loss of $8,000. Depreciation expense was $50,000. Other capital assets were acquired for cash. Case B 20x2 20X1 Capital assets $360,000 $320,000 Accumulated depreciation (120,000) (140.000) 240,000 180,000 The company sold an asset with an original cost of $80,000 and a net book value of $20,000 for a gain of $4,000. Other capital assets were acquired for cash. Case C 20x2 20X1 Capital assets $1,200,000 $580,000 Accumulated depreciation (320,000) (220,000) 880,000 360,000 The company sold an asset with an original cost of $160,.000 and a net book value of $108,000 for a gain of $34,000. Capital assets of $400,000 were acquired by issuing a long-term note to the vendor for the full amount. Other capital assets were acquired for cash.