How do I find the book vale of something when only given the gains and proceeds from a cash flow statement? We are given the gains from the sale of company-operated restaurants and the proceeds from the sale of those restaurants. Given that information for 2018, what was the book value of the company-operated restaurants? Show your computations:Gains on the sale of company-operated restaurants2018 2017 2016$(46,164) (38,034) (1,230) Proceeds from the sale of company-operated restaurants 2018 2017 2016$26,486 99,591 1,439

In general, gain on sale is recognised when sale value of such asset is more than its book value.…

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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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How do I find the book vale of something when only given the gains and proceeds from a cash flow statement?

We are given the gains from the sale of company-operated restaurants and the proceeds from the sale of those restaurants. Given that information for 2018, what was the book value of the company-operated restaurants? Show your computations:

Gains on the sale of company-operated restaurants

2018 2017 2016

$(46,164) (38,034) (1,230)

Proceeds from the sale of company-operated restaurants

2018 2017 2016

$26,486 99,591 1,439

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