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USE THE FOLLOWING INFORMATION FOR #6 & 7: Sold equipment for = $10,000 Original cost of equipment = $32,000 Accumulated depreciation on equipment at date
USE THE FOLLOWING INFORMATION FOR #6 & 7: Sold equipment for = $10,000 Original cost of equipment = $32,000 Accumulated depreciation on equipment at date of sale = $11,000 Q6: To get from net income to cash using the INDIRECT METHOD we must do what in the operating section: add $11,000 subtract $11,000 do nothing Q7: To get from net income to cash using the INDIRECT METHOD we must do what in the investing section: add subtract O do nothing
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