Question
During 2021 equipment was sold for $75,000. This equipment cost $120,000 and had a book value of $80,000. Accumulated depreciation for equipment was $325,000 at
During 2021 equipment was sold for $75,000. This equipment cost $120,000 and had a book value of $80,000. Accumulated depreciation for equipment was $325,000 at 12/31/20 and $310,000 at 12/31/21.
Instructions
How would the above transaction affect the different sections of the statement of cash flows? Show your calculations.
ASAP
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Financial Accounting And Reporting
Authors: Mr Barry Elliott, Jamie Elliott
16th Edition
027377817X, 978-0273778172
