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Determining Cash Flows from Investing Activities Burns Company's 2019 and 2018 balance sheets presented the following data for equipment: Equipment Accumulated depreciation Jan. 1 $225,000 $2,700 $132.300 During the year, coument costing 135,000 with accumulated depreciation of $31.175 was sold for cash, producing a $4,600 g Required: 3. Calitate the amount of depreciation experse 2. Calculate the amount of cach spent for ment Dec. 31 1275,000 128.300 $145,700 Calculate the amount that should be included a cash infow from the disposal of equipment

Determining Cash Flows from Investing Activities Burns Company's 2019 and 2018 balance sheets presented the following data for equipment: Equipment Accumulated depreciation Jan. 1 $225,000 $2,700 $132.300 During the year, coument costing 135,000 with accumulated depreciation of $31.175 was sold for cash, producing a $4,600 g Required: 3. Calitate the amount of depreciation experse 2. Calculate the amount of cach spent for ment Dec. 31 1275,000 128.300 $145,700 Calculate the amount that should be included a cash infow from the disposal of equipment

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 41E: Determining Cash Flows from Investing Activities Burns Companys 2019 and 2018 balance sheets...
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6:50 b✰. Chegg !!! go Determining Cash Flows from Investing Activities Burns Company's 2019 and 2010 balance sheets presented the following data for equipment: Equipment Accumulated depreciation Book value Jan. 1 $225,000 92,700 $132,300 Ć Dec. 31 $275,000 128.300 $145,700 During the year, equloment costing $35,000 with accumulated depreciation of $31,175 was sold for cash, producing a $4,600 gain, Required: 1. Calculate the amount of depreciation expense. € 2. Calculate the amount of cash spent for equipment. D 3. Calculate the amount that should be included as a cash inflow from the deposal of equipment 4G LTE1 4 48% Skip question Hide Transcribed Text Determining Cash Fows from Investing Activities Burns Company's 2019 and 2018 balance sheets presented the following data for equipment: During the year, equipment costing $35,000 with accumulated depreciation of $31, 175 was sold for cash, producing a $4,600 gain. Required: 1. Calculate the amount of depreciation expense. 2. Calculate the amount of cash spent for equipment. 3. Calculate the amount that should be included as a cash inflow from the disposal of equipment. 8 Start answering
Transcribed Image Text:6:50 b✰. Chegg !!! go Determining Cash Flows from Investing Activities Burns Company's 2019 and 2010 balance sheets presented the following data for equipment: Equipment Accumulated depreciation Book value Jan. 1 $225,000 92,700 $132,300 Ć Dec. 31 $275,000 128.300 $145,700 During the year, equloment costing $35,000 with accumulated depreciation of $31,175 was sold for cash, producing a $4,600 gain, Required: 1. Calculate the amount of depreciation expense. € 2. Calculate the amount of cash spent for equipment. D 3. Calculate the amount that should be included as a cash inflow from the deposal of equipment 4G LTE1 4 48% Skip question Hide Transcribed Text Determining Cash Fows from Investing Activities Burns Company's 2019 and 2018 balance sheets presented the following data for equipment: During the year, equipment costing $35,000 with accumulated depreciation of $31, 175 was sold for cash, producing a $4,600 gain. Required: 1. Calculate the amount of depreciation expense. 2. Calculate the amount of cash spent for equipment. 3. Calculate the amount that should be included as a cash inflow from the disposal of equipment. 8 Start answering
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