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Calculate any cash receipts or payments related to the property, plant, and equipment accounts in 2024. Land purchase Equipment purchase Proceeds from disposal of equipment SA $ SA $ $ tA 125,000 i 17,000 i (37,800)

Calculate any cash receipts or payments related to the property, plant, and equipment accounts in 2024. Land purchase Equipment purchase Proceeds from disposal of equipment SA $ SA $ $ tA 125,000 i 17,000 i (37,800)

FINANCIAL ACCOUNTING
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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Calculate any cash receipts or payments related to the property, plant, and equipment accounts in 2024. Land purchase Equipment purchase Proceeds from disposal of equipment $ $ SA SA $ 125,000 i 17,000 i (37,800)
Transcribed Image Text:Calculate any cash receipts or payments related to the property, plant, and equipment accounts in 2024. Land purchase Equipment purchase Proceeds from disposal of equipment $ $ SA SA $ 125,000 i 17,000 i (37,800)
The following selected account balances relate to the property, plant, and equipment accounts of Pharoah Ltd.: 2024 2023 Accumulated depreciation-buildings $336,500 $306,000 Accumulated depreciation-equipment 146,000 96,500 Depreciation expense-buildings 30,500 30,500 Depreciation expense-equipment 68,000 49,500 Land 195,000 70,000 Buildings 770,000 770,000 Equipment 305,000 255,000 Gain on disposal (equipment) 4,300 0 Additional information regarding 2024: 1. Purchased $125,000 of land for cash. 2. Purchased $83,000 of equipment for a $17,000 down payment, financing the remainder with a bank loan. Equipment was also sold during the year.
Transcribed Image Text:The following selected account balances relate to the property, plant, and equipment accounts of Pharoah Ltd.: 2024 2023 Accumulated depreciation-buildings $336,500 $306,000 Accumulated depreciation-equipment 146,000 96,500 Depreciation expense-buildings 30,500 30,500 Depreciation expense-equipment 68,000 49,500 Land 195,000 70,000 Buildings 770,000 770,000 Equipment 305,000 255,000 Gain on disposal (equipment) 4,300 0 Additional information regarding 2024: 1. Purchased $125,000 of land for cash. 2. Purchased $83,000 of equipment for a $17,000 down payment, financing the remainder with a bank loan. Equipment was also sold during the year.
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