Question
Question 1 The following information has been taken from the Balance Sheet of Maggies Mugs. Machinery Accumulated Depreciation Machinery Investments 2019 180 000 (95 000)
Question 1 The following information has been taken from the Balance Sheet of Maggies Mugs.
|
Machinery Accumulated Depreciation Machinery
Investments
|
|
| 2019 180 000 (95 000)
135 000
|
| 2020 310 000 (132 000)
225 000
|
Additional Information:
- During the year Machinery with a historic cost of $60,000 was sold for $20,000 Cash. The company made a gain on disposal of this asset of $10,000.
- Investments with a cost of $30,000 was sold for $45,000 Cash.
Required:
What are the Cash Flows from Investing Activities for the Year ended 30 June 2020?
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Fundamental accounting principle
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
21st edition
1259119831, 9781259311703, 978-1259119835, 1259311708, 978-0078025587
