Homework Answers
Answer
Machine cost = $150,000
Accumulated depreciation = $105,000
Selling price = $60,000
Therefore
The current value of machine
= machine cost - accumulated depreciation
= 150,000 - 105,000 = $45,000
The current value of machine is $45,000 and the selling price is $60,000.
Selling price is greater than current value, it means the machine is sold on a profit (gain).
Gain on sale of machine = 60,000 - 45,000 = $15,000
* gain on sale of machine is $15,000
* proceeds from sales of machine is $60,000
The gain on sale of machine is $15,000 , it is recorded in the operating activities section of the cash flow statement as a negative figure.
Proceed from sale of machine $60,000, it is recorded in the investing section of the cashflow as a positive figure.
The above calculations clearly indicate that $60,000 is recorded in the cash flow statement as a positive figure.
Option $60,000 is CORRECT.
If YOU are like the answer please upvote .
Add Answer to:
Saved Help A machine with a cost of $150,000 and accumulated depreciation of $105.000 is sold...
A machine with a cost of $143,000 and accumulated depreciation of $91,500 is sold for $63,000...
A machine with a cost of $143,000 and accumulated depreciation of $91,500 is sold for $63,000 cash. The amount that should be reported in the operating activities section reported under the direct method is Multiple Choice $63,000. $11,500 $51,500 Zero. This is a financing activity Zero. This is an investing activity A machine with a cost of $137,000 and accumulated depreciation of $92,000 is sold for $53,500 cash. The amount that should be reported as a source of cash under...
A machine with a cost of $143,000 and accumulated depreciation of $98,000 is sold for $56,500...
A machine with a cost of $143,000 and accumulated depreciation of $98,000 is sold for $56,500 cash. The amount that should be reported as a source of cash under cash flows from investing activities is:
A machine with a cost of $130,000 and accumulated depreciation of $85,000 is sold for $50,000...
A machine with a cost of $130,000 and accumulated depreciation of $85,000 is sold for $50,000 cash. The amount that should be reported as a source of cash under cash flows from investing activities is
A machine with a cost of $140,000 and accumulated depreciation of $95,000 is sold for $55,000...
A machine with a cost of $140,000 and accumulated depreciation of $95,000 is sold for $55,000 cash. The amount that should be reported as a source of cash under cash flows from investing activities is:
If a business sells for $8.000 equipment that cost $25,000 and has $20,000 of accumulated depreciation,...
If a business sells for $8.000 equipment that cost $25,000 and has $20,000 of accumulated depreciation, how is this reported in the statement of cash flows? Multiple Choice $8,000 inflow as an investing activity, and $3,000 gain as a subtraction from net income under operating activities $8,000 cash inflow in financing activities, and $3,000 loss as an addition to net income under operating activities $8,000 cash inflow as an investing activity only 58.000 cash inflow in financing activities, $3,000 gain...
If a business sells for $8,000 equipment that cost $25,000 and has $20,000 of accumulated depreciation,...
If a business sells for $8,000 equipment that cost $25,000 and has $20,000 of accumulated depreciation, how is this reported in the statement of cash flows? Multiple Choice $8,000 cash inflow in financing activities, and $3,000 loss as an addition to net income under operating activities $8,000 cash inflow in financing activities, $3,000 gain as an addition from net income under operating activities $8,000 inflow as an investing activity, and $3,000 gain as a subtraction from net income under operating...
Saved Help Save 4 Stormer Company reports the following amounts on its statement of cash flow....
Saved Help Save 4 Stormer Company reports the following amounts on its statement of cash flow. Net cash provided by operating activities was $29.000, net cash used in investing activities was $10,400 and net cash used in financing activities was $12,600. If the beginning cash balance is $5,200, what is the ending cash balance? Multiple Choice $11.200 $32,000 O $57.200 $46,800 Ο Ο o o $6,000 < Prev 33 of 36 Next > to search SAMSUNG ANNN
A machine with a cost of $132,000 and accumulated depreciation of $86,000 is sold for $40,800...
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 Ο Ο $4,080. Ο 558,300. Ο Ο $5.200
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
A machine with a cost of $146,000 and accumulated depreciation of $93.000 is sold for $46.400 cash. The total amount re...
A machine with a cost of $146,000 and accumulated depreciation of $93.000 is sold for $46.400 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 M oe Choice 0 $21000. 54640. оо 367400. O $1,500 96 БОЮ A corporation reported cash of $26,400, total assets of $458,000, and total equity of $156,975 on its balance sheet. Its common-size percent for cash equals:...
A machine with a cost of $143,000 and accumulated depreciation of $91,500 is sold for $63,000 cash. The amount that should be reported in the operating activities section reported under the direct method is Multiple Choice $63,000. $11,500 $51,500 Zero. This is a financing activity Zero. This is an investing activity A machine with a cost of $137,000 and accumulated depreciation of $92,000 is sold for $53,500 cash. The amount that should be reported as a source of cash under...
A machine with a cost of $143,000 and accumulated depreciation of $98,000 is sold for $56,500 cash. The amount that should be reported as a source of cash under cash flows from investing activities is:
If a business sells for $8.000 equipment that cost $25,000 and has $20,000 of accumulated depreciation, how is this reported in the statement of cash flows? Multiple Choice $8,000 inflow as an investing activity, and $3,000 gain as a subtraction from net income under operating activities $8,000 cash inflow in financing activities, and $3,000 loss as an addition to net income under operating activities $8,000 cash inflow as an investing activity only 58.000 cash inflow in financing activities, $3,000 gain...
If a business sells for $8,000 equipment that cost $25,000 and has $20,000 of accumulated depreciation, how is this reported in the statement of cash flows? Multiple Choice $8,000 cash inflow in financing activities, and $3,000 loss as an addition to net income under operating activities $8,000 cash inflow in financing activities, $3,000 gain as an addition from net income under operating activities $8,000 inflow as an investing activity, and $3,000 gain as a subtraction from net income under operating...
Saved Help Save 4 Stormer Company reports the following amounts on its statement of cash flow. Net cash provided by operating activities was $29.000, net cash used in investing activities was $10,400 and net cash used in financing activities was $12,600. If the beginning cash balance is $5,200, what is the ending cash balance? Multiple Choice $11.200 $32,000 O $57.200 $46,800 Ο Ο o o $6,000 < Prev 33 of 36 Next > to search SAMSUNG ANNN
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 Ο Ο $4,080. Ο 558,300. Ο Ο $5.200
A machine with a cost of $146,000 and accumulated depreciation of $93.000 is sold for $46.400 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 M oe Choice 0 $21000. 54640. оо 367400. O $1,500 96 БОЮ A corporation reported cash of $26,400, total assets of $458,000, and total equity of $156,975 on its balance sheet. Its common-size percent for cash equals:...
Most questions answered within 3 hours.
-
Kylie is a single mom with two dependent children,
Tanner, age 7 and Olivia, age 11....
asked 18 minutes ago -
Phosphorous + bromine = phosphorous tribromide. If 35.0 g of
bromine are reacted and 27.9 grams...
asked 1 hour ago -
Derive the long wavelength limit of the Planck energy density
distribution
asked 1 hour ago -
Calculate the pH of each of the following solutions.
0.50 M HBr
3.1×10−4 M KOH
4.2×10−5...
asked 5 hours ago -
For the year ended December 31, Depot Max’s cost of merchandise
sold was $85,600. Inventory at the...
asked 5 hours ago -
Week 10 - Professional Memo Assignment
Professional Memo Assignment
Your mission for this week, should you...
asked 5 hours ago -
Write a Python program that stores the data for each
player on the team, and it...
asked 5 hours ago -
In
the last 3 months, mike never knows when he is going to get his
allowance...
asked 5 hours ago -
Is Ca(OH)2 a Bronsted base, Lewis base, or both? Why?
asked 5 hours ago -
1A- Why don’t voters complain about U.S. tariffs on imported
sugar?
Because sugar is only a...
asked 5 hours ago -
Cash Payback Period
Primera Banco is evaluating two capital investment proposals for
a drive-up ATM kiosk,...
asked 5 hours ago -
Create a button in Swift (Xcode) that will create a charge,
create a charge using Stripe's...
asked 5 hours ago