How would you report it in the cashflow statement

Assignment Help Financial Accounting
Reference no: EM132983578

Question - During 2020, equipment was sold for $ 15,000. This equipment originally cost $ 24,000 and had a book value of $ 14,000 at the date of sale. Accumulated depreciation for equipment was $ 65,000 at December 31, 2019 and $ 62,000 at December 31, 2020.

Required - Based on the above information show how the sale (including any gain or loss), and the depreciation expense for 2020 would be shown on a statement of cash flows (indirect method). Include your calculations. How would you report it in the cashflow statement?

Reference no: EM132983578

Questions Cloud

Safe design standard operating procedure : Safe Design Standard Operating Procedure - Your standard operating procedure document must ensure these requirements are met in the designs
What is the cost of equity : The common stock of ABC Company has a beta of 1.10. If the expected return on the market is 10% and the risk-free rate is 5%, what is the cost of equity
Obtained the expected after-tax rate of return : The company decided to sell the equipment for $180,000 at the end of 4 years. Determine if the company obtained the expected after-tax rate of return
Explain the business process : Explain the Business Process (Such as the sales side of the customer) and Explain the Background and Problem Issued why you choose that business process
How would you report it in the cashflow statement : This equipment originally cost $ 24,000 and had a book value of $ 14,000 at the date of sale. How would you report it in the cashflow statement
Effect of state court dismissal of discrimination complaint : What is the effect of a state court's dismissal of a discrimination complaint on the complainant's right to file suit in federal court? What is the effect of a
List of six major competencies : The key HR roles, competencies, and areas of expertise. Explain whether you agree with the list of six major competencies:
Role of supervisors in performance appraisal of employees : You are the HR manager for an accounting firm. What is the difference between your role and the role of supervisors in Performance Appraisal of employees?
Adequate replacement for the right to strike : Compulsory arbitration is an adequate replacement for the right to strike. Do you agree or disagree, and why?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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