Eddie Limited has the following non- current asset section in its Statement of Financial Position as at 31 December 2022: Non-Current Assets: 2022 2021 Land cost 150,000 200,000 Buildings cost 450,000 400,000 Buildings Accumulated Depn (215,000) (120,000) 535,000 480,000 You are advised that the company does not depreciate land. The only disposal during the year was a building which cost €100,000 and had a net book value of €50,000. What was the cash outflow on purchase of land and buildings ? enter your answer as a POSITIVE full number with no € sign
Eddie Limited has the following non- current asset section in its Statement of Financial Position as at 31 December 2022: Non-Current Assets: 2022 2021 Land cost 150,000 200,000 Buildings cost 450,000 400,000 Buildings Accumulated Depn (215,000) (120,000) 535,000 480,000 You are advised that the company does not depreciate land. The only disposal during the year was a building which cost €100,000 and had a net book value of €50,000. What was the cash outflow on purchase of land and buildings ? enter your answer as a POSITIVE full number with no € sign
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please do not give solution in image format thanku
Transcribed Image Text:Eddie Limited has the following non-
current asset section in its Statement of
Financial Position as at 31 December 2022:
Non-Current Assets: 2022 2021 Land cost
150,000 200,000 Buildings cost 450,000
400,000 Buildings Accumulated Depn
(215,000) (120,000) 535,000 480,000 You
are advised that the company does not
depreciate land. The only disposal during
the year was a building which cost
€100,000 and had a net book value of
€50,000. What was the cash outflow on
purchase of land and buildings ? enter your
answer as a POSITIVE full number with no
€ sign
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education