Question
Burke Corporation reported the following information for 2021: For the year ended 12/31/2021 Depreciation expense 19,000 Loss on sale of equipment 2,000 12/31/2021 1/1/2021 PP&E
Burke Corporation reported the following information for 2021:
For the year ended 12/31/2021
Depreciation expense 19,000
Loss on sale of equipment 2,000
12/31/2021 1/1/2021
PP&E - Cost 130,000 150,000
PP&E - Accumulated depreciation (39,000) (22,000)
Burke purchased a new machine for cash during 2021. In addition, Burke sold a manufacturing equipment for $23,000 in 2021. The cash outflow to acquire the new machine should be:
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Advances In Quantitative Analysis Of Finance And Accounting (Vol. 4)
Authors: Lee Cheng Few
2nd Edition
9812700218, 9789812700216
