MyLab Accounting with Pearson eText -- Access Card -- for Horngren's Financial & Managerial Accounting, The Financial Chapters (My Accounting Lab)

5th Edition

ISBN: 9780133877281

Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura

Publisher: PEARSON

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Textbook Question

Chapter 14, Problem 6QC

The Plant Assets account and Accumulated Depreciation-Plant Assets account of Star Media show the following:

Plant Assets
Beg.	100,000
Acquisitions	428,000	52,500	Disposals
End.	475,500
Accumulated Depreciation—Plant Assets
		20,000	12/31/2015
Disposals	10,500	34,000	Depr. Exp.
		43,500	12/31/2016

Star Media sold plant assets at an $11,000 loss. Where on the statement of cash flows should Star Media report the sale of plant assets? How much should the business report for the sale?

a. Financing cash flows---cash receipt of $42,000
b. Investing cash flows -cash receipt of $53,000
c. Investing cash flows-cash receipt of $31,000
d. Investing cash flows ---cash receipt of $42,000

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Chapter 14, Problem 5QC

Chapter 14, Problem 7QC

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Chapter 14 Solutions

MyLab Accounting with Pearson eText -- Access Card -- for Horngren's Financial & Managerial Accounting, The Financial Chapters (My Accounting Lab)

Ch. 14 - The purposes of the statement of cash flows are to...Ch. 14 - The main categories of cash flow activities are a....Ch. 14 - Operating activities are most closely related to...Ch. 14 - Which item does not appear on a statement of cash...Ch. 14 - Leather Shop earned net income of 57,000 after...Ch. 14 - The Plant Assets account and Accumulated...Ch. 14 - Mountain Water Corp. issued common stock of 28,000...Ch. 14 - Prob. 8QC Ch. 14 - Prob. 9AQC Ch. 14 - If accrued liabilities increased during the year,...

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Solution Summary: The author explains that the statement of cash flows determines the net changes in cash through reporting the sources and uses of money due to the operating, investing, and financing activities of the company.

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