Fully depreciated equipment costing $100,000 was discarded. What was the effect of the transaction on cash flows
Question:
(a) $24,000 cash is received,
(b) No cash is received?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 46% (13 reviews)
Disposal of equipment a The 24000 would ...View the full answer
Answered By
Salmon ouma
I am a graduate of Maseno University, I graduated with a second class honors upper division in Business administration. I have assisted many students with their academic work during my years of tutoring. That has helped me build my experience as an academic writer. I am happy to tell you that many students have benefited from my work as a writer since my work is perfect, precise, and always submitted in due time. I am able to work under very minimal or no supervision at all and be able to beat deadlines.
I have high knowledge of essay writing skills. I am also well conversant with formatting styles such as Harvard, APA, MLA, and Chicago. All that combined with my knowledge in methods of data analysis such as regression analysis, hypothesis analysis, inductive approach, and deductive approach have enabled me to assist several college and university students across the world with their academic work such as essays, thesis writing, term paper, research project, and dissertation. I have managed to help students get their work done in good time due to my dedication to writing.
5.00+
4+ Reviews
16+ Question Solved
Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
Question Posted:
Students also viewed these Accounting questions
-
Fully depreciated equipment costing $50,000 was discarded. What was the effect of the transaction on cash flows if (a) $15,000 cash is received, (b) No cash is received?
-
Fully depreciated equipment costing $25,000 was discarded. What was the effect of the transaction on cash flows if (a) $10,000 cash is received, (b) No cash is received?
-
Fully depreciated equipment costing $55,000 was discarded. What was the effect of the transaction on cash flows if (a) $5,000 cash is received, (b) No cash is received?
-
Jen and Barry's Ice Milk Company used cash to purchase a new ice milk mixer on January 1, 2013. The new mixer is estimated to have a 20,000 - hour service life. Jen and Barry's depreciates equipment...
-
Express the kth percentile, Pk, of a normally distributed variable in terms of its mean, , and standard deviation, ?
-
For each of the following actions, identify whether the method of risk assessment motivating your action is due to the value at risk or the standard deviation of an underlying probability...
-
Determine Amazon.coms budgeted purchases for the next (seven-day) week. a. $220.5 million b. $315 million c. $367.5 million d. $525 million Suppose Amazon.com sells 1 million hardcover books a day at...
-
On January 1, 2017, Holland Corporation paid $8 per share to a group of Zeeland Corporation shareholders to acquire 60,000 shares of Zeeland's outstanding voting stock, representing a 60 percent...
-
1%20Assignment%20Unit%202.pdf Q E X ages y! Yahoo _ Zoominfo C Bitterwater-Tully .... ( Bayshore Elementar... Prog 1 /2 - 80% + 1. The fox population in a certain region has an annual growth rate of...
-
Air flows into the jet engine shown at a rate of 9 slug/s and a speed of 300 ft/s. Upon landing, the engine exhaust exits through the reverse thrust mechanism with a speed of 900 ft/s in the...
-
A long-term investment in bonds with a cost of $60,000 was sold for $72,000 cash. (a) What was the gain or loss on the sale? (b) What was the effect of the transaction on cash flows? (c) How should...
-
Identify whether each of the following would be reported as an operating, investing, or financing activity in the statement of cash flows. (a) Issuance of common stock (b) Purchase of land (c)...
-
The PQR Coal Company has several conventional and strip mining operations. Recently, new legis-lation has made strip mining, which produces coal of high sulfur content, unprofitable, so those...
-
What are the four main areas on which the balanced scorecard is based?
-
Executives in the multibillion-dollar toy industry constantly search for the next big hit, a magical toy that will trigger a nationwide frenzy among youngsters comparable to the mania sparked in...
-
Derry and Co. is a large computer consultancy business that has a division specialising in robotics. Can you identify three non-financial measures that might be used to help assess the performance of...
-
If we wish to separate the following systems by distillation, is CMO approximately valid? a. Methanol and water b. Isopropanol and water c. Acetic acid and water d. Benzene from toluene
-
The paper by McCabe and Thiele (1925) is a classic in chemical engineering. Read it. Write a one-page critique of the paper.
-
Some of the elements of the theoretical framework of auditing are shown in Figure 1.3. For each of these elements, describe the effect on an audit if the element were not true. 1. The data to be...
-
Describe the general ways that the revised Form 990, applicable for tax year 2008 and beyond, is different from previous versions.
-
Evaluate the indefinite integral, using substitution if necessary. 7 dx X
-
When is the financial components approach to recording the transfers of receivables used? When should a transfer of receivables be recorded as a sale?
-
When is the financial components approach to recording the transfers of receivables used? When should a transfer of receivables be recorded as a sale?
-
Horizon Outfitters Company includes in its trial balance for December 31 an item for Accounts Receivable $789,000. This balance consists of the following items: Due from regular...
-
Board Company's direct labor information for February is as follows: Direct labor hours worked ( AQ ) 3 4 , 5 0 0 Standard direct labor hours for units manufactured ( SQ ) 3 6 , 5 0 0 Unfavorable...
-
Bolka Corporation, a merchandising company, reported the following results for October:SalesCost of goods sold ( all variable ) Total variable selling expenseTotal fixed selling expenseTotal variable...
-
Calculate the amounts needed to prepare 3 0 g of the following prescription: \ table [ [ salacylic acid, 0 . 9 %
Study smarter with the SolutionInn App