User Account

All Pages

How would the event affect the statement of cash flows

Assignment Help Accounting Basics
Reference no: EM13928514

Friel Company sold office equipment with a cost of $21,000 and accumulated depreciation of $9,000 for $14,000. 

Required: 

a. What is the book value of the asset at the time of sale? 

b. What is the amount of gain or loss on the disposal? 

c. How would the sale affect net income (increase, decrease, no effect) and by how much? 

d. How would the sale affect the amount of total assets shown on the balance sheet (increase, decrease, no effect) and by how much? 

e. How would the event affect the statement of cash flows (inflow, outflow, no effect) and in what section?

Reference no: EM13928514

Questions Cloud

Describe the steps of the scientific method earl utilized : ind a media piece-article, video, presentation, song, or other related to the scientific method, creating hypotheses, or designing experiments
Applying the approach to ethics in the company : From the e-Activity, discuss the major challenges you would anticipate in applying the approach to ethics in the company you researched (and the specific challenges they face), as well as how those challenges might be addressed.
What real-life aspects can you glean from this video : View this video First IT Professional Services Call-http://www.screencast.com/t/lYHn48OZkE83 (under three minutes) and comment. While it's intended to be humorous, what real-life aspects can you glean from this video? Discuss
Insurance premium : overhead expenses are budgeted at $2000 per month. Included in the 2,000 are $500 of monthly depreciation expenses and $200 of allocated expenses related to the insurance premium that is paid on September.
How would the event affect the statement of cash flows : How would the event affect the statement of cash flows (inflow, outflow, no effect) and in what section?
What is the amount sold by each salesperson : Use the PivotTable to calculate and summarize the data. Once you have created a PivotTable, change the order amount to currency. What is the amount sold by each salesperson? What is the total amount sold in each month
How much can you withdraw from retirement plans : If you plan on making 20 equal withdrawals at the beginning of each year from the account (with the first withdrawal made at the end of the 30th year-the first year of retirement), how much can you withdraw?
Problem regarding the company ethical standards : Describe how a company's ethical standards are aligned with its decision-making approach (es) and how you would be certain that ethical decisions were being made. From the perspective of the executive suite, prioritize three of the responsibilitie..
Determine the cost basis of a new machine : determine the cost basis of a new machine and how to calculate the due date of a note

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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