FINANCIAL ACCOUNTING>IC<
FINANCIAL ACCOUNTING>IC<
15th Edition
ISBN: 9781119344988
Author: Kimmel
Publisher: WILEY C
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Chapter 12, Problem 12.7BE
To determine

Cash flow from investing activities:  This section of cash flows statement provides information concerning about the purchase and sale of capital assets by the company.

To calculate: The amount of cash flow from sale of equipment under “Cash flow from investing activities”

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Fearless Flying Squirrels Company collected the following data in its accounting records in 2022: From the income statement: Depreciation expense $1,100 Loss on sale of equipment 3,100 From the comparative balance sheet:   Beginning balance, equipment $12,500 Ending balance, equipment 7,900 Beginning balance, accumulated depreciation 1,900 Ending balance, accumulated depreciation 2,300 No new equipment was purchased during the year.   Required: What was the cash in-flow from the sale of equipment in 2022?
On its January 1, 2016, balance sheet, Calvin Company reported equipment of $60,000 and accumulated depreciation of $20,000. During 2016, Calvin sold equipment with an original cost of $5,000. Selected information from Calvin's 2016 statement of cash flows follows: Net income $20,000 Depreciation expense on equipment 2,000 Gain on sale of equipment 600 Proceeds from sale of equipment 1,500 Purchase of equipment 18,000 ​ Required:Compute the amount of equipment and accumulated depreciation that should appear on Calvin's December 31, 2016, balance sheet.
According to the images, answer the following questions: 1. During the year ended March 11th, 2017, how much did Sainsbury’s receive in cash due to sales of plant, property and equipment? a) 55 b) 314 c) 634 d) 466 e) None of the Above 2. During the year ended March 11th, 2017, how much net cash flow did Sainsbury’s generate from operating activities (including interest and taxes paid)? a) (63) b) 1,077 c) 1,323 d) 1,153 e) None of the above 3. In which part of the Statement of Cash Flows does Sainsbury’s classify interest received and dividend received? a) Cash Flows from Operations b) Cash Flows from Investing c) Cash Flows from Financing d) Not classified 4. What amount of long–term borrowings did Sainsbury’s repay during the year? You can ignore capital leases a) 492 b) 130 c) 466 d) 448 e) None of the above 5. What is the difference between the Net profit for the financial year and “Net cash generated from operating activities (CFO)”? a) Net profit is 776 greater than CFO b) Net…

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FINANCIAL ACCOUNTING>IC<

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