Operating activities on a statement of cash flows

Assignment Help Accounting Basics
Reference no: EM13149567

Conrad Corporation sold a piece of equipment at a loss of $3,600. The equipment was purchased several years ago at a cost of $70,500 and had been depreciated a total of $52,900. Using the indirect method, what amount is reported under the operating activities on a statement of cash flows?

Reference no: EM13149567

Questions Cloud

What happens to the interest rate and investment in response : Suppose that the government increases taxes and government purchases by equal amounts. What happens to the interest rate and investment in response to this balanced-budget change? Does your answer depend on marginal propensity to consume?
Determining report investment revenue : Stone Co. owns 3,000 of the 10,000 outstanding shares of Maye Corp. common stock. During 2007, Maye earns $180,000 and pays cash dividends of $50,000. Stone should report investment revenue for 2007 of
What is the minimum mass of nahco3 that must be added : If 30 mL of 6.2 M H2SO4 was spilled, what is the minimum mass of NaHCO3 that must be added to the spill to neutralize the acid?
Determining gain and loss on disposal : The accumulated depreciation account had a balance of $105,000 on January 1, 2008, using the straight-line method. The gain or loss on disposal is
Operating activities on a statement of cash flows : Conrad Corporation sold a piece of equipment at a loss of $3,600. The equipment was purchased several years ago at a cost of $70,500 and had been depreciated a total of $52,900. Using the indirect method, what amount is reported under the operatin..
What is the vapor pressure of a solution : What is the vapor pressure of a solution that contains .944 moles Ba(NO3)2 and 30 moles of H2O? The vapor pressure of pure water at the same temperature as the solution is 46 torr
Determining percent marginal tax bracket : What are the income and FICA tax consequences if $325,000 is determined to be excessive wages by the IRS? Assume Joe is in the 35 percent marginal tax bracket and JS Corporation is in the 34 percent marginal tax bracket.
Schedule of consolidated net income : Prepare a proper schedule of consolidated net income and apportionment to non controlling and congtrolling interests for 2010.
Determining break-even point in dollars : Fields Corporation has two divisions; Sporting Goods and Sports Gear. The sales mix is 65% for Sporting Goods and 35% for Sports Gear. Fields incurs $2,220,000 in fixed costs. The contribution margin ratio for Sporting Goods is 30%, while for Spor..

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  Frequent flier miles and asset classes

Explain how your position changes if the employer reports to the IRS the value of the employees' frequent-flyer mileage.

  Would you agree with xyzs decision

The XYZ Company billing department has decided to assign one employee to each of its customers. This employee will be responsible for granting credit to the client and then handling the billing.

  Identify the activities and drivers-measurable

Identify drivers of those activities, bearing in mind that it must be easy to measure and record the values of the drivers. Do you see any potential benefit in implementing ABC for Netflix?

  Record the transactions on page 8 of a general journal

Record the transactions on page 8 of a general journal. You can Omit descriptions. You can use any General Journal template or the one attached.

  Which would be considered a discontinued operation

An entity that is a franchiser in the quick-service restaurant business also operates company-owned restaurants that are unprofitable in a certain region and, as a result, the entity decides to exit both the quick-service business as well as the c..

  Speculate foreign currency within fiscal year

The transaction gain or loss to be recognized over the term of a forward exchange contract entered into to speculate in a foreign currency within a fiscal year is measured by the difference between the:

  Result of conversion of preferred stock

The market value of the common stock at the date of the conversion was $30 per share. What total amount should be credited to additional paid-in capital from common stock as a result of the conversion of the preferred stock into common stock?

  Balance in reston investment account

On January 1, 2010, Reston Co. purchased 25% of Ace Corp.'s common stock; no goodwill resulted from the purchase. Reston appropriately carries this investment at equity, and the balance in Reston's investment account was $720,000 at December 31, 2..

  Casualty loss deduction

Sarah came home one day to find significant water damage in her home. Apparently one of the hoses to her washing machine had worn out and split, spilling water all over the place. Over the next month, mildew appeared as well.

  Plant assets-depreciation-disposal and depletion

Illustrate journal entries required and demonstrate the calculations necessary. How to calculate a change in the periodic rate is also shown. Plant asset disposal slides illustrate the following situations: retirement, loss on sale, and gain on sa..

  Amount of total assets at the end of year

During the year, total liabilities increased $100,000 and owner's equity decreased $70,000 What is the amount of total assets at the end of the year?

  Determining company overview milestone

Find two annual reports from competing publicly traded companies of your choice. Prepare an overview of the two companies including a brief synopsis of the industry the companies are in, the market share each company holds, and the length of time ..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd