During the year, Blaylock Company sold equipment with a book
value of $280,000 for $380,000 (original...
During the year, Blaylock Company sold equipment with a book
value of $280,000 for $380,000 (original purchase cost of
$480,000). New equipment was purchased. Blalock provided the
following comparative balance sheets:
Blaylock Company
Comparative Balance
Sheets
At December
31, 2013 and 2014
2013
2014
Long-Term Assets:
Plant and equipment
$2,200,000
$2,150,000
Accumulated depreciation
(1,200,000)
(1,270,000)
Land
1,000,000
1,437,500
Required: Calculate the investing cash flows for the current
year.
During 2020, Sunland Company sold equipment that had cost
$390000 for $234200. This resulted in a...
During 2020, Sunland Company sold equipment that had cost
$390000 for $234200. This resulted in a gain of $16600. The balance
in Accumulated Depreciation—Equipment was $1300000 on January 1,
2020, and $1230000 on December 31. No other equipment was disposed
of during 2020. Depreciation expense for 2020 was
$217600.
$70000.
$86600.
$102400.
During 2018 equipment was sold for $79,000. This equipment cost
$128,300 and had a book value...
During 2018 equipment was sold for $79,000. This equipment cost
$128,300 and had a book value of $67,700. Accumulated depreciation
for equipment was $339,100 at 12/31/17 and $314,200 at
12/31/18.
compute cash flow statement
Use the following information for the Quick Study below.
[The following information applies to the questions...
Use the following information for the Quick Study below.
[The following information applies to the questions
displayed below.]
The plant assets section of the comparative balance sheets of
Anders Company is reported below.
ANDERS COMPANY
Comparative Balance Sheets
2019
2018
Plant
assets
Equipment
$
270,000
$
360,000
Accumulated
depreciation—Equipment
(136,000
)
(246,000
)
Equipment,
net
$
134,000
$
114,000
Buildings
$
470,000
$
490,000
Accumulated
depreciation—Buildings
(154,000
)
(339,000
)
Buildings,
net
$
316,000
$
151,000
QS 12-11 Computing investing...
SAFFORDVILLE COMPANY
Comparative Balance Sheets
December 31
Assets
2017
2016
Cash
$102,700
$ 33,400
Accounts receivable...
SAFFORDVILLE COMPANY
Comparative Balance Sheets
December 31
Assets
2017
2016
Cash
$102,700
$ 33,400
Accounts receivable
60,800
37,000
Inventory
126,900
102,650
Investments
79,500
107,000
Equipment
315,000
205,000
Accumulated depreciation—equipment
(44,500)
(40,000)
Total
$640,400
$445,050
Liabilities and Stockholders’ Equity
Accounts payable
$ 57,700
$ 48,280
Accrued expenses payable
15,100
18,830
Bonds payable
145,000
70,000
Common stock
250,000
200,000
Retained earnings
172,600
107,940
Total
$640,400
$445,050
SAFFORDVILLE COMPANY
Income Statement
For the Year Ended December 31, 2017
Sales revenue
$297,500
Gain on...
Ford Company reports depreciation expense of $40,000 for Year 2.
Also, equipment costing $150,000 was sold...
Ford Company reports depreciation expense of $40,000 for Year 2.
Also, equipment costing $150,000 was sold for its book value in
Year 2. There were no other equipment purchases or sales during the
year. The following selected information is available for Ford
Company from its comparative balance sheet. Compute the cash
received from the sale of the equipment.
At December 31
Year 2
Year 1
Equipment
$
600,000
$
750,000
Accumulated Depreciation-Equipment
428,000
500,000
vDuring 2021 equipment was sold for $74,000. This equipment cost
$112,000 and had a book value...
vDuring 2021 equipment was sold for $74,000. This equipment cost
$112,000 and had a book value of $69,700. Accumulated depreciation
for equipment was $323,300 at 12/31/20 and $306,200 at
12/31/21.
Complete the cash flow statement below: (Show amounts
that decrease cash flow with either a - sign e.g. -15,000 or in
parenthesis e.g. (15,000).)
Partial Statement of Cash Flows (Indirect
Method)
...
Use the following information for the Quick Study below.
[The following information applies to the questions...
Use the following information for the Quick Study below.
[The following information applies to the questions
displayed below.]
The plant assets section of the comparative balance sheets of
Anders Company is reported below.
ANDERS COMPANY
Comparative Balance Sheets
2019
2018
Plant
assets
Equipment
$
270,000
$
360,000
Accumulated
depreciation—Equipment
(136,000
)
(246,000
)
Equipment,
net
$
134,000
$
114,000
Buildings
$
470,000
$
490,000
Accumulated
depreciation—Buildings
(154,000
)
(339,000
)
Buildings,
net
$
316,000
$
151,000
QS 12-10 Computing investing...
. On its January 1, 2016, balance
sheet, Calvin Company reported equipment of $60,000 and
accumulated...
. On its January 1, 2016, balance
sheet, Calvin Company reported equipment of $60,000 and
accumulated depreciation of $20,000.
During 2016, Calvin sold equipment with an original cost
of $5,000. Selected information from
Calvin's 2016 statement of cash flows follows:
Net income
$20,000
Depreciation expense on equipment
2,000
Gain on sale of equipment
600
Proceeds from sale of equipment
1,500
Purchase of equipment
18,000
Required: Compute the amount of
equipment and accumulated depreciation that should...
The Red Company purchased equipment on June 1,
2020. Assuming the cost of the equipment is $66,000,...
The Red Company purchased equipment on June 1,
2020. Assuming the cost of the equipment is $66,000, the
residual value is $6,000, a useful life of 5 years and the use of
the straight line method. The company's year end is December
31.
1) What is depreciation expense at December 31, 2020? $
Answer
2) What is accumulated depreciation at December 31, 2022? $
Answer
3) What is the carrying value of the asset at December 31, 2023?
$ Answer
4)...