Homework Answers
Calculation:
Sale Proceeds from Sale of Equipment = Book Value of Equipment
Sold + Gain on Sale of Equipment
Sale Proceeds from Sale of Equipment = $80,000 + $20,000
Sale Proceeds from Sale of Equipment =
$100,000
Accumulated Depreciation, Ending = Accumulated Depreciation,
Beginning + Depreciation Expense – Accumulated Depreciation on
Equipment Sold
$600,000 = $500,000 + $100,000 - Accumulated Depreciation on
Equipment Sold
Accumulated Depreciation on Equipment Sold = $0
Ending Equipment = Beginning Equipment + Purchase of Equipment –
Book Value of Equipment sold
$1,500,000 = $1,200,000 + Purchase of Equipment - $80,000
Purchase of Equipment = $380,000
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Use the comparative balance sheet and the additional information provided to prepare a cash flow statement...
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Prepare a Cash Flow Statement.
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