4d Problem 4.d: Calculate the after-tax net cash flow (ATCF) of the company Labor expensesMaterials costsDepreciation expensesInterest expensesRental expensesProceeds from sale of old equipment with abook value of $20,000$550,000$385,000$132,500$22,200$45,000$23,000

Name: 4d Problem 4.d: Calculate the after-tax net cash flow (ATCF) of the co
Uploaded: 2024-03-05T11:50:36.000Z
Channel: Bartleby
Description: 4d Problem 4.d: Calculate the after-tax net cash flow (ATCF) of the company Labor expensesMaterials costsDepreciation expensesInterest expensesRental expensesProceeds from sale of old equipment with abook value of $20,000$550,000$385,000$132,500$22,2

Cash flow refers to inflow and outflow of cash in an entity. Taxes are levied as per laws of the…

Business

Accounting

Labor expenses Materials costs Depreciation expenses $550,000 $385,000 $132,500 Interest expenses $22,200 Rental expenses $45,000 Proceeds from sale of old equipment with a $23,000 book value of $20,000

Labor expenses Materials costs Depreciation expenses $550,000 $385,000 $132,500 Interest expenses $22,200 Rental expenses $45,000 Proceeds from sale of old equipment with a $23,000 book value of $20,000

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter7: Operating Assets

Section: Chapter Questions

Problem 35BE: Disposal of an Operating Asset Jolie Company owns equipment with a cost of $85,500 and accumulated...

See similar textbooks

Similar questions

Disposal of an Operating Asset Jolie Company owns equipment with a cost of $85,500 and accumulated depreciation of 76,200. Required: Prepare the journal entry to record the disposal of the equipment on April 9 assuming: 1. Jolie sold the equipment for $11,200 cash. 2. Jolie sold the equipment for $7,900 cash.
Equipment R20 000, Accumulated Depreciation R16 000. Depreciation is calculated at 20% p. a. on a diminishing method. An old equipment was disposed for R1 500 cash on 1 December 2020. The equipment originally costed R3 000. The Accumulated depreciation is R 700.The profit/loss for the disposed equipment is _________.A. Profit/loss R300B. Profit/loss R92C. Profit/loss R455D. Profit/loss R460
Machinery that cost $144,000 and on which $120,000 of accumulated depreciation has beenrecorded was disposed of for $36,000 cash. The entry to record this event would include aa. gain of $12,000.b. loss of $12,000.c. credit to the Equipment account for $36,000.d. credit to Accumulated Depreciation for $120,000
Equipment R20 000, Accumulated Depreciation R16 000. Depreciation is calculated at 20% p. a. on a diminishing method. An old equipment was disposed for R1 500 cash on 1 December 2020. The equipment originally costed R3 000. The Accumulated depreciation is R 700.The depreciation for the disposed equipment is _________.A. R460B. R345C. R225D. R92
31-Dec-2020 31-Dec-2019 $ $ Equipment 177,000 100,000 Accumulated Depreciation $76,000 $60,000 A equipment with a cost of $20,000 was disposed during the year with accumulated depreciation of $15000 and gain on disposal of $3,000. No other disposal or retirement of Equipment during the year ended 31 December 2020. The total depreiciation expense for year ended 31 December 2020 is $ Additions of Equipment (Purchase of Equipment) for the year ended 31 December 2020 is $ Sales Proceeds on disposal of equipment is $
DEF Company sells plant assets that originally cost $150,000 for $52,000 on December 31, 2011. The accumulated depreciation account had a balance for $60,000 after the current year’s depreciation of $15,000 had been recorded. The company should recognize a:A) $100,000 loss on disposalB) $40,000 gain on disposalC) $40,000 loss on disposalD) $25,000 loss on disposal
Create a units of production depreciation Cargo Van Price $26,000 Machine Price $48,000Salvage value $2,000 Salvage value $3,000Useful life 10 years Useful life 8 yearsTotal miles 90,000 Total hours 13,000Yr 1 miles 12,100 Yr 1 hours 1,250Yr 2 miles 9,400 Yr 2 hours 1,46
Equipment originally costing $95,000 has accumulated depreciation of $30,000. If the equipment is sold for $55,000, the company should record a. No gain or loss.b. A gain of $10,000.c. A loss of $10,000.d. A loss of $40,000.
Vehicles R300 000, Accumulated depreciation R50 000. Depreciation is calculated at 10%on cost. An old vehicle was disposed on 31 August 2019 at R20 000 cash.The vehicle originally costed R25 000 and the Accumulated depreciation is R 3 000.Depreciation for the disposed vehicle is________.A. R2 500B. R1 250C. R2 000D. R500
Cost of assets: $150,000 Estimated Useful life: 5 years Estimated Total Units of activity : 10,000 units Estimated Salvage value: $ 2100 Units of Production in Year 1 : 500 units Double Declining Balance method: depreciation expense for year 1 is $_______________
Question 51 During 2021, equipment was sold for $468,000. The equipment cost $786,000 and had a book value of $432,000. Accumulated Depreciation–Equipment was $2,061,000 at 12/31/20 and $2,205,000 at 12/31/21. Depreciation expense for 2021 was $288,000. $576,000. $144,000. $498,000.
Packaging equiptment purchased 12 years ago for $240,000 was sold for $100,000 cash. Accumulated Depreciation at the time of the sale was $125,000. Compute the gain or loss on the sale and journalize the appropriate entry.