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The following information relates to Equipment and related accounts of DJ Khaleed Inc: Equipment, beginning balance P260,000 Equipment, ending balance 300,000 Equipment sold during the
The following information relates to Equipment and related accounts of DJ Khaleed Inc: Equipment, beginning balance P260,000 Equipment, ending balance 300,000 Equipment sold during the year: Cost 20,000 Book value 4,000 Fully depreciated equipment written off during the year 10,000 Accumulated Depreciation, beginning balance 180.000 Accumulated Depreciation, ending balance 169.000 1. Assuming that all of DJ Khaleed's equipment purchases are for cash, howInuch cash was used to purchase equipment during the year? D. 2. Assuming DJ Khaleed uses the indirect method, the depreciation expense that would be added to net income in computing cash flows from operations would be
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