Cash would be _____. 59 Question: Financial accountingEquipment with an original cost of $50,000 and accumulateddepreciation of $20,000 was sold at a loss of $7,000. As a result of thistransaction, cash would:A) increase by $23,000B) decrease by $7,000C) increase by $43,000D) decrease by $30,000

Explanation of Book Value:The book value of an asset represents its net value in the accounting…

Answered: 59 Question: Financial accounting…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter7: Fixed Assets, Natural Resources, And Intangible Assets

Section: Chapter Questions

Problem 7.3.2MBA

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Week 8 Excel Spreadsheet to be used with the Practice Set: Years Acquisition stage cash flow: Initial Outlay Operating stage cash flow: Sales Fixed Cost Variable Cost Depreciation expense Taxable income Taxes 0 (800,000) 1 2 3 4 5 6 7 8 After tax income Add back depreciation Operating cash flows 600,000 600,000 600,000 600,000 (220,000) (220,000) (220,000) (220,000) (240,000) (240,000) (240,000) (240,000) (68,000) (68,000) (68,000) (68,000) 72,000 72,000 72,000 72,000 (20,160) (20,160) (20,160) (20,160) 51,840 51,840 51,840 68,000 68,000 68,000 119,840 119,840 119,840 51,840 68,000 119,840 600,000 600,000 600,000 600,000 (220,000) (220,000) (220,000) (220,000) (240,000) (240,000) (240,000) (240,000) (68,000) (68,000) (68,000) (68,000) 72,000 72,000 72,000 72,000 (20,160) (20,160) (20,160) (20,160) 51,840 51,840 51,840 51,840 68,000 68,000 68,000 68,000 119,840 119,840 119,840 119,840 Disposition stage cash flow: 500,000 Total cash flow Present Value (800,000) 872,591 119,840 119,840…
Note: Double Declining Balance = 200% Declining Balance A. How much is the depreciation for year 3? Select one: o a. P158,203.13 o b. P150,000 o c. P210,937.50 o d. P187,500 В. How much is the total depreciation as of year three using DDB method? C. What is the equipment's book value at the end of year three?
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Depreciation and accounting cash flow A fim in the thed year of depreciating is only asset, which originally cost $188,000 and has a 5-year MACRS recovery penod has gathered the following data relative to the cument year's operations Aconuals Carentanets interest expense mas Sales revenue inventory Total costs before depreciation, interest and taxes Tas rate on ordinary income Show Transcribed Text Use the relevant data to determine the operating cash flow for the curent year bExplain the impact that depreciation, as well as any other noncash charges, has on a fem's cash flows Recovery year 1 2 3 4 5 6 Rounded Depreciation Percentages by Recovery Year Using MACRS for First Four Property Classes 7 8 9 10 11 Totals $15.200 110,000 14.000 413.000 09.000 293.000 40% Show Transcribed Text Show Transcribed Text 3 years 33% 45% 3 15% 7% Percentage by recovery year 5 years 20% 32% 19% 12% 12% 5% A 100% 100% 100% 100% These percentages have been rounded to the nearest whole percent to simplify…
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Q8: The following journal entry: Cash $100,000 Accumulated Depreciation $20,000 Loss on sale of Fixed Assets $100,000 Machine O A. Increases net income by $100,000 B. Decreases net income $100,000 O C. Has no impact on net income D. Increases assets by $120,000 O E. Decreases assets by $220,100 O F. Both A. and E. G. B. D. and E. O H. Both B. and E, O I. Both B. and D. O J. A. D. and E. $220,000
Determine the missing amount: cash$239,186;short term investment$353,700;acct receiv$504,944;inventory? Prepaid exp$83,259;total current asset$1,594927; property&equipment? what is the inventory amount and property& equipment amount?
9
Loss of 21300 is incurreed in selling (for cash) office qeuipment that cost 89000 and had accumulated depreciation of 22200, actual cash proceedsmust have been 1. 67700 2.88100 3.66800 4. 45500
What is the net book value of asset

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59 Question: Financial accounting Equipment with an original cost of $50,000 and accumulated depreciation of $20,000 was sold at a loss of $7,000. As a result of this transaction, cash would: A) increase by $23,000 B) decrease by $7,000 C) increase by $43,000 D) decrease by $30,000