Question
Please answer within the hour 1a. A machine (a long-term asset) with a cost of $147,000 and accumulated depreciation of $93,500 is sold for $67,000
Please answer within the hour
1a. A machine (a long-term asset) with a cost of $147,000 and accumulated depreciation of $93,500 is sold for $67,000 cash. The amount that should be reported in the operating activities section of the statement of cash flows reported using the direct method is:
a. $26,500
b. $67,000
c. $53,500
d. $0
e. $13,500
1b. A machine (a long-term asset) with a cost of $152,000 and accumulated depreciation of $96,000 is sold for $48,800 cash. The total amount related to this machine that should be reported in the operating section of the statement of cash flows using the indirect method is:
$22,500.
$71,300.
$4880.
$7200.
$17,700.
1c. A company reported that its bonds (a long-term liability) with a par value of $50,000 and a carrying value of $61,000 are sold for $64,800 cash, resulting in a loss of $3,800. The amount to be reported on the statement of cash flows under cash flows from financing activities is:
a. $(3,800)
b. $(61,000)
c. $11,000
d. $(64,800)
e. $(11,000)
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