MANAGERIAL ACCOUNTING FUND. W/CONNECT
5th Edition
ISBN: 9781259688713
Author: Wild
Publisher: MCG
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Textbook Question
Chapter 12, Problem 5QS
The following information is necessary to answer QS 12-5 and QS 12-6.
The plant assets section of the comparative balance sheets of Anders Company is reported below.
Refer to the balance sheet data above from Anders Company. During 2015, equipment with a book value of $40,000 and an original cost of $210,000 was sold at a loss of $3,000.
- How much cash did Anders receive from the sale of equipment?
- How much
depreciation expense was recorded on equipment during 2015? - What was the cost of new equipment purchased by Anders during 2015?
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The net income for Fallon Company for 2017 was $320,000.During 2017, depreciation on plant assets was $124,000,amortization of patent was $40,000, and the companyincurred a loss on sale of plant assets of $21,000. Computenet cash flow from operating activities.
Use the following information for the Quick Study below. (Algo)
[The following information applies to the questions displayed below)
The plant assets section of the comparative balance sheets of Anders Company is reported below.
ANDERS COMPANY
Comparative Year-End Balance Sheets
Plant assets
Equipment
Accumulated depreciation-Equipment
Equipment, net
Buildings
Accumulated depreciation-Buildings
Buildings, net
2020
$ 220,000
(116,000)
$ 104,000
$ 420,000
(124,000)
$ 296,000
QS 12-11 (Algo) Computing investing cash flows LO P3
1. Cash received from the sale of building.
2 Depreciation expense
3 Purchase of building
2019
$ 310,000
(226,000)
$ 84,000
$ 440,000
(309,000)
$ 131,000
During 2020, a building with a book value of $78,000 and an original cost of $340,000 was sold at a gain of $68,000.
1. How much cash did Anders receive from the sale of the building?
2. How much depreciation expense was recorded on buildings during 2020?
3. What was the cost of buildings purchased by Anders…
The plant assets section of the comparative balance sheets of Anders Company is reported below.
1.
2.
3.
ANDERS COMPANY
Comparative Balance Sheets
Plant assets
Equipment
Accumulated depreciation-Equipment
Equipment, net
Buildings
Accumulated depreciation-Buildings
Buildings, net
2018
Cash received from the sale of building
Depreciation expense
Purchase of building
$ 295,000
(146,000)
$ 149,000
$ 495,000
2017
$ 385,000
(256,000)
$ 129,000
$ 515,000
(354,000)
(169,000)
$ 326,000 $ 161,000
During 2018, a building with a book value of $93,000 and an original cost of $415,000 was sold at a gain of $83,000.
1. How much cash did Anders receive from the sale of the building?
2. How much depreciation expense was recorded on buildings during 2018?
3. What was the cost of buildings purchased by Anders during 2018?
Chapter 12 Solutions
MANAGERIAL ACCOUNTING FUND. W/CONNECT
Ch. 12 - Prob. 1MCQCh. 12 - Prob. 2MCQCh. 12 - Prob. 3MCQCh. 12 - Prob. 4MCQCh. 12 - Prob. 5MCQCh. 12 - Prob. 1DQCh. 12 - Prob. 2DQCh. 12 - Prob. 3DQCh. 12 - Prob. 4DQCh. 12 - Prob. 5DQ
Ch. 12 - Prob. 6DQCh. 12 - Prob. 7DQCh. 12 - Prob. 8DQCh. 12 - Prob. 9DQCh. 12 - Prob. 10DQCh. 12 - Prob. 11DQCh. 12 - Prob. 12DQCh. 12 - Prob. 13DQCh. 12 - Prob. 14DQCh. 12 - Prob. 15DQCh. 12 - Prob. 1QSCh. 12 - Prob. 2QSCh. 12 - Prob. 3QSCh. 12 - Prob. 4QSCh. 12 - The following information is necessary to answer...Ch. 12 - Refer to the balance sheet data above from Anders...Ch. 12 - Prob. 7QSCh. 12 - Prob. 8QSCh. 12 - Prob. 9QSCh. 12 - Prob. 10QSCh. 12 - Use the following balance sheet and income...Ch. 12 - Prob. 12QSCh. 12 - Prob. 13QSCh. 12 - Prob. 14QSCh. 12 - Prob. 15QSCh. 12 - Prob. 16QSCh. 12 - Prob. 17QSCh. 12 - Prob. 18QSCh. 12 - Prob. 19QSCh. 12 - Prob. 20QSCh. 12 - Prob. 1ECh. 12 - Prob. 2ECh. 12 - Prob. 3ECh. 12 - Prob. 4ECh. 12 - Prob. 5ECh. 12 - Prob. 6ECh. 12 - Prob. 7ECh. 12 - Prob. 8ECh. 12 - Prob. 9ECh. 12 - Prob. 10ECh. 12 - The following financial statements and additional...Ch. 12 - Prob. 12ECh. 12 - Complete the following spreadsheet in preparation...Ch. 12 - Prob. 14ECh. 12 - Prob. 15ECh. 12 - Prob. 16ECh. 12 - Prob. 17ECh. 12 - The following summarized Cash T-account reflects...Ch. 12 - Prob. 1PSACh. 12 - Refer to the information in problem 12-1A....Ch. 12 - Forten Company, a merchandiser, recently completed...Ch. 12 - Prob. 4PSACh. 12 - Refer to Forten Companys financial statements and...Ch. 12 - Golden Corp., a merchandiser, recently completed...Ch. 12 - Prob. 7PSACh. 12 - Prob. 8PSACh. 12 - Prob. 1PSBCh. 12 - Prob. 2PSBCh. 12 - Prob. 3PSBCh. 12 - Prob. 4PSBCh. 12 - Prob. 5PSBCh. 12 - Prob. 6PSBCh. 12 - Prob. 7PSBCh. 12 - Prob. 8PSBCh. 12 - Prob. 12SPCh. 12 - Prob. 1GLPCh. 12 - Prob. 3GLPCh. 12 - Prob. 1BTNCh. 12 - Prob. 2BTNCh. 12 - Prob. 3BTNCh. 12 - Prob. 4BTNCh. 12 - Prob. 5BTNCh. 12 - Prob. 6BTNCh. 12 - Prob. 7BTNCh. 12 - Prob. 8BTNCh. 12 - Prob. 10BTN
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