Marvin Industries owns a plece of equipment with a cost of $149,000 and accumulated depreciation of $123,000. The equipment Is sold for $52,300 cash. The amount that should be reported as a cash Inflow from Investing activitles Is: Multiple Cholce $52.300. $26.300. $26,000. $O; this transaction Is a financing activity.

Marvin Industries owns a plece of equipment with a cost of $149,000 and accumulated depreciation of $123,000. The equipment Is sold for $52,300 cash. The amount that should be reported as a cash Inflow from Investing activitles Is: Multiple Cholce $52.300. $26.300. $26,000. $O; this transaction Is a financing activity.

Name: MC Qu. 12-182 Marvin Industries owns a piece of.Marvin Industries own
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: MC Qu. 12-182 Marvin Industries owns a piece of.Marvin Industries owns a plece of equipment with a cost of $149,000 and accumulated depreciation of $123,000.The equipment is sold for $52,300 cash. The amount that should be reported as a cash Inflow

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

A machine with a cost of $138,000 and accumulated depreciation of $93,000 is sold for $54,000 cash. The amount that should be reported as a source of cash under cash flows from investing activities is: Multiple Choice $54,000. $9,000. $45,000. Zero. This is a financing activity. Zero. This is an operating activity.
Cuevas Custom Cycles sold equipment for cash. The income statement shows a gain on the sale of $920. The net book value of the asset was $3,610. Which of the following statements describes the cash effect of the transaction? A positive cash flow of $2,690 from investing activities B positive cash flow of $4,530 from investing activities C negative cash flow of $2,690 from investing activities D negative cash flow of $4,530 from investing activities
Sweeter Enterprises Inc. has net cash flows from operating activities of $378,000. Cash flows used for investments in property, plant, and equipment totaled $76,000, of which 65% of this investment was used to replace existing capacity. a. Determine the free cash flow for Sweeter Enterprises Inc. b. How might a lender use free cash flow to determine whether or not to give Sweeter Enterprises Inc. a loan? Free cash flow is often used to measure the financial strength of a business. The - free cash flow that a business has, the easier it will be for the company to pay the interest on the loan and repay the loan principal. Sweeter's free cash flow is $ which is very
Problem 1. (Accounting for Joint Operation Transactions) Small, Medium, and Large formed a joint operation. The following were the joint operation transactions: a. Small transferred cash of P100,000 to Large, the appointed manager, representing Small's contribution. b. Medium contributed inventories worth P120,000. c. Large contributed cash of P80,000 d. Large purchased inventories worth P160,000 and paid freight of P20,000 using the cash contributions. e. Large made cash sales of P900,000. f. Large paid expenses of P240,000 from the JO-cash. Other information: • All inventories were sold except one-third from large's purchases. Large was charged for the cost of the unsold inventory. • The joint operators agreed on the following: o Large is entitled to a management fee of P6,000 and a bonus of 15% of profit after management fee and bonus. o Any remaining profit or loss is divided equally. Requirement: Case 1: No separate records are maintained a. Prepare the journal entries for…
Prepare Cashflow Statement for ABC company from the following information. Showing your workings. (Unit: CU1000)
Connor Designs Company has net cash flows from operating activities of $425,000 and net cash flows used for investing activities of $65,000, of which 70% was used to purchase property, plant, and equipment. What is the free cash flow for Connor Designs? Free cash flow s
Cameron Corporation purchase land for $434,000. Later in the year, the company sold a different piece of land with a book value of $182,000 for $202,000. How are the effects of these transactions Reported on the statement of cash flow is assuming the indirect method is used? Action Amount
Please answer competely
How do I figure out how to journalize the cash flow
The following information is available in relation to Britannia Baby Company. The Company has profit before taxes of Rs 50 lacs. Classify and give reasons for the cash flows falling under the operating activities Classify and give reasons for the cash flows falling under the investing activities
A building with a book value of $36,213 is sold for $60,055 cash. Using the indirect method, this transaction should be shown on the statement of cash flows as an increase of a.$36,213 from investing activities b.$60,055 from investing activities and a deduction from net income of $23,842 c.$36,213 from investing activities and an addition to net income of $23,842 d.$60,055 from investing activities
A corporation uses the Indirect method of preparing the statement of cash flows. A fixed asset has been sold for $25,656, representing a gain of $3,094. The value of this transaction appearing in the operating activities section of the statement of cash flows is Oa. $20,750 Ob. $22,562 Oc. $25,656 Od. $(3,094)