Question
Maria Co. sold a machine that cost $78,500 and had a book value of $44,500 for $48,000. Data from Maria's comparative balance sheets are: 12/31/21
Maria Co. sold a machine that cost $78,500 and had a book value of $44,500 for $48,000. Data from Maria's comparative balance sheets are:
| 12/31/21 | 12/31/20 | |||
| Machinery | $793,500 | $653,000 | ||
| Accumulated depreciation | 178,500 | 136,000 |
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).)
| Maria Co. Partial Statement of Cash Flows (Indirect Method) For the Year Ended December 31, 2021December 31, 2021For the Quarter Ended December 31, 2021 | ||
| Cash flows from operating activities | ||
| Sale of Machinery Depreciation Expense Gain on Sale of Machinery Loss on Sale of Machinery Purchase of Machinery | $ | |
| Gain on Sale of Machinery Loss on Sale of Machinery Depreciation Expense Sale of Machinery Purchase of Machinery | ||
| Cash flows from investing activities | ||
| Loss on Sale of Machinery Purchase of Machinery Depreciation Expense Sale of Machinery Gain on Sale of Machinery | ||
| Loss on Sale of Machinery Purchase of Machinery Sale of Machinery Depreciation Expense Gain on Sale of Machinery | ||
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