Question: A corporation uses the indirect method for preparing the statement of cash flows. A fixed asset has been sold for a . $ 4 .

A corporation uses the indirect method for preparing the statement of cash flows. A fixed asset has been sold for
a. $4.500
b. $29500
c. $25.000
d.S(4.500)
All work samed.
A corporation uses the indirect method for

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

A corporation uses the indirect method of preparing the statement of cash flows. A fixed asset has been sold for $27,367, representing a gain of $3,436. The value of this transaction appearing in the...

Q:

1.Accounts receivable from sales transactions were $47,895 at the beginning of the year and $69,185 at the end of the year. Net income reported on the income statement for the year was $127,009....

Q:

A corporation uses the indirect method for preparing the statement of cash flows. A fixed asset has been sold for $21,488 representing a gain of $3,323. The value in the operating activities section...

Q:

1. Land costing $78,600 was sold for $92,800 cash. The gain on the sale was reported on the income statement as other revenue. On the statement of cash flows, what amount should be reported as an...

Q:

On the statement of cash flows, the financing activities section would include all of the following except a. cash paid for dividends b. cash paid for the interest on bonds payable c. cash received...

Q:

please help i am confused 11. Which of the following should be added to net income in calculating net cash flow from operating active using the indirect method? a depreciation expense b. an increase...

Q:

1. A corporation uses the indirect method for preparing the statement of cash flows. A fixed asset has been sold for $23,649 representing a gain of $3,881. The value in the operating activities...

Q:

Baxter Company reported a net loss of $16,015 for the year ended December 31. During the year, accounts receivable decreased by $5,306, merchandise inventory increased by $10,638, accounts payable...

Q:

After the accounts are adjusted and closed at the end of the fiscal year, Accounts Receivable has a balance of $748,597 and Allowance for Doubtful Accounts has a balance of $19,002. What is the net...

Q:

If a gain of $7,515 is realized in selling (for cash) office equipment having a book value of $61,374, the total amount reported in the cash flows from investing activities section of the statement...

Q:

What is the typical relationship between interest rates on three-month Treasury bills, long-term Treasury bonds, and Baa corporate bonds?

Q:

Cost of goods sold Msica y Ms had an inventory of guitars and other musical instruments. Using the FIFO method and the perpetual inventory system, the company recorded initial inventory, purchases,...

Q:

Which one of the following licensees cannot sponsor an MLO? Licensed Residential Mortgage Broker Licensed Correspondent Residential Mortgage Lender A licensed Residential Mortgage Lender A licensed...

Q:

What are some food related health care issues that inner cities are more likely to see than more affluent areas? Why are certain areas most likely to experience inadequate healthy food options than...