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Problem 8-5: Centralia Stores Inc. had property, plant, and equipment, net of accumulated depreciation, of $4,459,000 and intangible assets, net of accumulated amortization, of $673,000 on December 31, 2016. The company’s 2016 statement of cash flows, prepared using the indirect method, included the following items: The Cash Flows from Operating Activities section included three additions to net income: Depreciation expense of $672,000 Amortization expense of $33,000 Loss on the sale of equipment of $35,000 The Cash Flows from Operating Activities section also included a subtraction from net income for the gain on the sale of copyright of $55,000.  The Cash Flows from Investing Activities section included outflows for the purchase of a building of $292,000 and $15,000 for the payment of legal fees to protect a patent from infringement.  The Cash Flows from Investing Activities section also included inflows from the sale of equipment of $315,000 and the sale of copyright of $75,000.…

Attempt in Progress The net income for Bramble Co. for 2022 was $332,200. For 2022, depreciation on plant assets was $72,700, and the company incurred a loss on disposal of plant assets of $30,600. Compute net cash provided by operating activities under the indirect method, assuming there were no other changes in the company's accounts. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis eg. (15,000).) Bramble Co. Statement of Cash Flows-Indirect Method Net Income 332200 Adjustments to reconcile net income to $ $ %24 %24 > > >

Current Attempt in Progress The net income for Coronado Co. for 2022 was $276,800. For 2022, depreciation on plant assets was $72,800, a company incurred a loss on disposal of plant assets of $30,400. Compute net cash provided by operating activities under the indirect method, assuming there were no other cha company's accounts. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,0 Coronado Co. Statement of Cash Flows-Indirect Method Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Gain on Disposal of Plant Assets Loss on Disposal of Plant Assets Net Cash Provided by Operating Activities +A $ +A +A $

Analyzing Cash Flow Effects of Equipment Sale Frontier Company sold equipment on June 30, 2020, for $30,000. The equipment had been depreciated $1,500 for the first six months of 2020, contributing to an accumulated depreciation balance of $10,000 on June 30, 2020. The original cost of the equipment was $50,000. Assuming the indirect method in presenting cash flows from operating activities, indicate any adjustments to net income in the operating activities section and any additions or subtractions in the investing and financing activities sections. • Note: Indicate a subtraction in the cash flow statement with a negative sign in the Amount column. • Note: If an item is not included in the cash flow statement, enter a zero in the Amount column and "N/A" in the Cash Flow Section column. Item Amount Cash Flow Section Depreciation of equipment Loss on sale of equipment Gain on sale of equipment Proceeds from sale of equipment $

Georgia Peach has the following information regarding the sale of its equipment: Sales price $8,000 Cost $25,000 Accumulated depreciation $19,000 Which of the following statements is true regarding how the above information would be reported on Georgia's statement of cash flows? Group of answer choices Loss on sale of plant asset will be $17,000 Gain on sale of plant asset will be $2,000 Depreciation expense will be $19,000 Cash received from sale of plant asset will be $25,000

Question 14 Hager Company sold some of its plant assets during 2021. The original cost of the plant assets was $900,000 and the accumulated depreciation at date of sale was $840,000. The proceeds from the sale of the plant assets were $90,000. The information concerning the sale of the plant assets should be shown on Hager's statement of cash flows (indirect method) for the year ended December 31, 2021, as a(n)     subtraction from net income of $30,000 and a $60,000 increase in cash flows from financing activities.     addition of $90,000 to net income.     subtraction from net income of $30,000 and a $90,000 increase in cash flows from investing activities.     addition to net income of $30,000 and a $90,000 increase in cash flows from investing activities.

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Determining Net Cash Flow from Investing Activities Davis Inc. reported the following information:   12/31/2019 12/31/2018 Equipment $ 220,000   $155,000   Accumulated depreciation (135,000)   (115,200)   Investment (long-term) 20,200   12,000     In addition, Davis sold equipment costing $22,900 with accumulated depreciation of $18,150 for $3,500 cash, producing a $1,250 loss. Davis reported net income for 2019 of $122,350. Required: Compute net cash flow from investing activities. Use a minus sign to indicate negative cash flows (outflows).$

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An analysis of the general ledger accounts indicates that delivery equipment, which cost $200,000 and on which accumulated depreciation totaled $60,000 on the date of sale, was sold for $132,500 during the year. Using this information, indicate the items to be reported on the statement of cash flows. Transaction Section of Statement of Cash Flows Added or Deducted $200,000 cost of equipment     $60000 accumulated depreciation     $132,500 sales price     $7,500 loss on sale of equipment(assume the indirect method is used)

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How does Depreciation Expense impact Declan's Designs' 2022 Statement of Cash Flows?

What amount was reported on the statement of cash flows as “cash flow from sale of equipment? Blue Spruce Corp.’s income statement reported a loss on the disposal of plant assets of $4,589.

Computing operating activities cash flow—indirect method The records of Vintage Color Engraving reveal the following: Compute cash flows from operating activities by the indirect method for year ended December 31, 2018.

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Subject: acounting

Question 2 During 2021 equipment was sold for $72,000. This equipment cost $104,000 and had a book value of $68,000. Accumulated depreciation for equipment was $323,400 at 12/31/20 and $304,800 at 12/31/21.Complete the cash flow statement below:

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On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows: Date Item Debit Credit BalanceDebit BalanceCredit January 1 Balance     1,131,000   March 12 Purchased for cash 385,000   1,516,000   October 4 Sold for $211,000   181,000 1,335,000     Item Section of Statement ofCash Flows Added or Deducted Amount March 12: Purchase of fixed asset     $fill in the blank 3 October 4: Sale of fixed asset     $fill in the blank 6 Gain on sale of fixed asset (assume the indirect method)     $fill in the blank 9