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During 2011, equipment was sold for $175000. The equipment sold has a cost $267000 and had a book value of $150000. Accumulated Depreciation-Equipment was $
During 2011, equipment was sold for $175000. The equipment sold has a cost $267000 and had a book value of $150000. Accumulated Depreciation-Equipment was $ 700000 at 12/31/10 and $730000 at 12/31/11. Net income is $150000 1-what is the accumulated depreciation for asset sold? 2-what is the depreciation expense of other assets ? 3-what is the gain on sale of assets ? 4-based on the above information, what is the cash flow from operating activities? I want a quick solution, please
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