Question

A machine with a cost of $146,000, accumulated depreciation of $93,000, and current year depreciation expense...

A machine with a cost of $146,000, accumulated depreciation of $93,000, and current year depreciation expense of $21,000 is sold for $46,400 cash. The amount that should be reported as a source of cash under cash flows from investing activities is:

  • $6,600.

  • $46,400.

  • $21,000.

  • $25,600.

  • $46,600.

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
A machine with a cost of $190,000 and accumulated depreciation of $95,000 was sold for $50,000...
A machine with a cost of $190,000 and accumulated depreciation of $95,000 was sold for $50,000 cash. The amount that should be reported as a source of cash under cash flows from investing activities is: -$120,000. -$50,000. -$45,000. -$35,000. -$80,000.
A machine with a cost of $174,000 and accumulated depreciation of $107,000 is sold for $57,600...
A machine with a cost of $174,000 and accumulated depreciation of $107,000 is sold for $57,600 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 $5,760. $14,400. $28,000. $9,400. $85,600.
Additional information: The depreciation expense is included in cost of sales. During the year, a machine...
Additional information: The depreciation expense is included in cost of sales. During the year, a machine costing $120,000 was sold for $40,000. The accumulated depreciation up to the date of disposal for this machine amounted to $100,000. The profit or loss on disposal of this machine was already included in operating profit for the year of 2015. The revaluation reserves were arising from revaluation of land. There is purchase, but no sale of land during the year. During the year,...
1- Use the following information and the indirect method to calculate the net cash provided or...
1- Use the following information and the indirect method to calculate the net cash provided or used by operating activities: Net income $ 87,300 Depreciation expense 14,000 Gain on sale of land 6,300 Increase in merchandise inventory 4,050 Increase in accounts payable 8,150 2- A machine with a cost of $145,000 and accumulated depreciation of $100,000 is sold for $57,500 cash. The amount that should be reported as a source of cash under cash flows from investing activities is: Multiple...
Cullumber Company reported net income of $162,030. It reported depreciation expense of $12,520 and accumulated depreciation...
Cullumber Company reported net income of $162,030. It reported depreciation expense of $12,520 and accumulated depreciation of $48,710. Amortization expense was $6,640. Cullumber Company purchased new equipment during the year for $50,660. Determine net cash provided by operating activities under the direct method.
Pharoah Company reported net income of $182,050. It reported depreciation expense of $16,690 and accumulated depreciation...
Pharoah Company reported net income of $182,050. It reported depreciation expense of $16,690 and accumulated depreciation of $47,580. Amortization expense was $8,810. Pharoah Company purchased new equipment during the year for $52,800. Determine net cash provided by operating activities under the indirect method.
1. The net income reported on the income statement for the current year was $310,744. Depreciation...
1. The net income reported on the income statement for the current year was $310,744. Depreciation recorded on fixed assets and amortization of patents for the year were $37,280 and $10,133, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Cash $53,915 $45,355 Accounts Receivable 129,483 107,546 Inventories 105,094 87,496 Prepaid Expenses 3,822 6,325 Accounts Payable (merchandise creditors) 51,118 60,892 What is the amount of...
Forecasted depreciation expense, commonly estimated as: [(Current year depreciation expense / Prior year PPE, net) x...
Forecasted depreciation expense, commonly estimated as: [(Current year depreciation expense / Prior year PPE, net) x Current year PPE, net], is added back to net income in the cash flow from operating activities section of the Statement of Cash Flows. Group of answer choices True False
44. In preparing a company's statement of cash flows for the most recent year, the following...
44. In preparing a company's statement of cash flows for the most recent year, the following information is available: Loss on the sale of equipment $ 14,000 Purchase of equipment 226,000 Proceeds from the sale of equipment 102,000 Repayment of outstanding bonds 87,000 Purchase of treasury stock 25,000 Issuance of common stock 96,000 Purchase of land 116,000 Increase in accounts receivable during the year 33,000 Decrease in accounts payable during the year 75,000 Payment of cash dividends 35,000 Net cash...
The income statement disclosed the following items for the current year: Depreciation expense $36,000 Gain on...
The income statement disclosed the following items for the current year: Depreciation expense $36,000 Gain on disposal of equipment   21,000 Net income 317,500 Balances of the current assets and current liabilities accounts changed between December 31, last year, and December 31, this year, as follows: Increase in accounts receivable $5,600 Decrease in inventory   3,200 Decrease in prepaid insurance   1,200 Decrease in accounts payable   3,800 Increase in income taxes payable   1,200 Increase in dividends payable     850 Prepare the Cash flows from...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT