A machine with a cost of $132,000 and accumulated depreciation of $86,000 is sold for $40,800 cash
A machine with a cost of $132,000 and accumulated depreciation of $86,000 is sold for $40,800 cash. The total amount related to this machine that should be reported in the operating section of the statement of cash flows under the indirect method is:
Multiple Choice
$17, 500
$4,080.
$58,300
$20,700
$5.200
Homework Answers
And. Option 5th $5,200
Explanation: Loss on sale of machine should be reported (added) in the Operation activities section of the cash flow statement.
First, we need to calculate the book value.
Book value = Cost of machine - Accumulated depreciation
= $132,000 - $86,000
= $46,000
Loss on sale of machine = Book value - Market value
= $46,000 - $40,800
= $5,200
*Sales (market) value of machine will be reported in investing activities.
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A machine with a cost of $132,000 and accumulated depreciation of $86,000 is sold for $40,800 cash
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