Managerial Accounting
Managerial Accounting
15th Edition
ISBN: 9781337912020
Author: Carl Warren, Ph.d. Cma William B. Tayler
Publisher: South-Western College Pub
bartleby

Videos

Textbook Question
Book Icon
Chapter 15, Problem 9E

Reporting changes in equipment on statement of cash flows

An analysis of the general ledger accounts indicates that delivery equipment, which cost $75,000 and on which accumulated depreciation totaled $58,000 on the date of sale, was sold for $20,200 during the year. Using this information, indicate the items to be reported on the statement of cash flows.

Blurred answer
Students have asked these similar questions
Cullumber Choice sells natural supplements to customers with an unconditional sales return if they are not satisfied. The sales return period extends 60 days. On February 10, 2024, a customer purchases $4100 of products (cost $2050). Assuming that based on prior experience, estimated returns are 30%. The journal entry to record the expected sales return and cost of goods sold includes a O debit to Cash and a credit to Sales Revenue of $4100. debit to Sales Returns and Allowances of $1230 and a credit to Cost of Goods sold of $615. O credit to Estimated Inventory Returns of $615. O debit to Cost of Goods Sold and credit to Inventory for $2050.
Meyer & Smith is a full-service technology company. It provides equipment, installation services as well as a full year of training. Customers can purchase any product or service separately or as a bundled package. Cullumber Corporation purchased computer equipment, installation, and training for a total cost of $143565 on March 15, 2024. Estimated standalone fair values of the equipment, installation and training are $99000, $44400, and $25500 respectively. The equipment was delivered and installed on March 15, 2024. The journal entry to record the transaction on March 15, 2024 will include a credit to Unearned Service Revenue of $21675. O credit to Service Revenue of $44400. O credit to Sales Revenue for $143565. O debit to Unearned Service Revenue of $25500.
Oriole Pharmaceuticals entered into a licensing agreement with Zenith Lab for a new drug under development. Oriole will receive $7650000 if the new drug receives FDA approval. Based on prior approval, Oriole determines that it is 90% likely that the drug will gain approval. The transaction price of this arrangement is ○ $0 until approval is received. ○ $765000. $7650000. ○ $6885000.

Chapter 15 Solutions

Managerial Accounting

Knowledge Booster
Background pattern image
Accounting
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
Managerial Accounting
Accounting
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:South-Western College Pub
Text book image
Excel Applications for Accounting Principles
Accounting
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Cengage Learning
Text book image
Financial And Managerial Accounting
Accounting
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:Cengage Learning,
Text book image
College Accounting, Chapters 1-27
Accounting
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:Cengage Learning,
Text book image
Cornerstones of Financial Accounting
Accounting
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Cengage Learning
Text book image
Financial Accounting Intro Concepts Meth/Uses
Finance
ISBN:9781285595047
Author:Weil
Publisher:Cengage
IAS 29 Financial Reporting in Hyperinflationary Economies: Summary 2021; Author: Silvia of CPDbox;https://www.youtube.com/watch?v=55luVuTYLY8;License: Standard Youtube License