Question
vDuring 2021 equipment was sold for $74,000. This equipment cost $112,000 and had a book value of $69,700. Accumulated depreciation for equipment was $323,300 at
vDuring 2021 equipment was sold for $74,000. This equipment cost $112,000 and had a book value of $69,700. Accumulated depreciation for equipment was $323,300 at 12/31/20 and $306,200 at 12/31/21. 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).)
| Partial Statement of Cash Flows (Indirect Method) December 31, 2021For the Quarter Ended December 31, 2021For the Year Ended December 31, 2021 | ||
| Cash flows from operating activities | ||
| Sale of EquipmentPurchase of EquipmentDepreciation ExpenseLoss on Sale of EquipmentGain on Sale of Equipment | $ | |
| Purchase of EquipmentGain on Sale of EquipmentSale of EquipmentLoss on Sale of EquipmentDepreciation Expense | ||
| Cash flows from investing activities | ||
| Loss on Sale of EquipmentPurchase of EquipmentDepreciation ExpenseSale of EquipmentGain on Sale of Equipment | ||
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Tracking Your Trek Looking Backward To Determine Your Forward
Authors: Erica Pauly
1st Edition
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