ASSET CASH TRADE RECEIVABLE INVENTORIES LAND BUILDING EQUIPMENT ACCUMULATED DEPRECIATION -EQUIPMENT TOTAL LIABILITIES & EQUITY TRADE PAYABLE BOND PAYABLE COMMON SHARES RETAINED EARNING TOTAL ADDITIONAL INFORMATION PROFIT FOR 2022 DIVIDEND PAID IN 2022 PROCEEDS EQUIPMENT SALES BOOK VALUE EQUIPMENT (PRIOR TO SALE) DEPRECIATION EXPENSE FOR 2022 # Land and sales of equipment via cash 2022 260,000 400,000 360,000 3,000,000 2,000,000 3,000,000 3,000,000 150,000 (70,000) 5,980,000 80,000 (30,000) 7,070,000 2021 200,000 300,000 400,000 240,000 200,000 1,200,000 2,000,000 2,400,000 1,200,000 3,230,000 2,580,000 7,070,000 5,980,000 700,000 50,000 30,000 20,000 10,000 Requirement: prepare a statement of cash flows for the year ended 31 December 2022 using INDIRECT METHOD

ASSET CASH TRADE RECEIVABLE INVENTORIES LAND BUILDING EQUIPMENT ACCUMULATED DEPRECIATION -EQUIPMENT TOTAL LIABILITIES & EQUITY TRADE PAYABLE BOND PAYABLE COMMON SHARES RETAINED EARNING TOTAL ADDITIONAL INFORMATION PROFIT FOR 2022 DIVIDEND PAID IN 2022 PROCEEDS EQUIPMENT SALES BOOK VALUE EQUIPMENT (PRIOR TO SALE) DEPRECIATION EXPENSE FOR 2022 # Land and sales of equipment via cash 2022 260,000 400,000 360,000 3,000,000 2,000,000 3,000,000 3,000,000 150,000 (70,000) 5,980,000 80,000 (30,000) 7,070,000 2021 200,000 300,000 400,000 240,000 200,000 1,200,000 2,000,000 2,400,000 1,200,000 3,230,000 2,580,000 7,070,000 5,980,000 700,000 50,000 30,000 20,000 10,000 Requirement: prepare a statement of cash flows for the year ended 31 December 2022 using INDIRECT METHOD

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Property, Plant & Equipment, net Depreciation expense 2023 = $40 2023 O Operating cash flow = -$40; Investing cash flow = $130 - O Operating cash flow = -$40; Investing cash flow = -$170 Operating cash flow = $40; Investing cash flow = -$210 Operating cash flow = $40; Investing cash flow = $130 $290 Balance sheet 2022 $120 Consider the balance sheet account Property, Plant & Equipment, net at year-end 2023 and 2022. In addition, this account was charged depreciation expense of $40 during 2023. What are the associated operating and investing cash flows during 2023?
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What is the net book value of asset
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