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  • Solved Office Equipment That Cost 67 000 Had Accumulated Depreciation of 22 500

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    Anbu jaromia
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    Office equipment that originally cost $67,000 and had accumulated depreciation of $22,500 was sold for $38,600. To calculate cash from operating activities using the direct method, the information provided about the sale of this equipment would need to be considered. Truly Inc. reported net income of $180,000 for the year along with depreciation expense of $40,000, a disposal gain of $12,400, and increases in accounts receivable and accounts payable. This information would be used to adjust net income for non-cash expenses and changes in operating assets and liabilities to calculate cash from operating activities. Amore Inc. had investments with costs and fair market values provided

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    Office equipment that originally cost $67,000 and had accumulated depreciation of $22,500 was sold for $38,600. To calculate cash from operating activities using the direct method, the information provided about the sale of this equipment would need to be considered. Truly Inc. reported net income of $180,000 for the year along with depreciation expense of $40,000, a disposal gain of $12,400, and increases in accounts receivable and accounts payable. This information would be used to adjust net income for non-cash expenses and changes in operating assets and liabilities to calculate cash from operating activities. Amore Inc. had investments with costs and fair market values provided

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    19 views1 page

    Solved Office Equipment That Cost 67 000 Had Accumulated Depreciation of 22 500

    Uploaded by

    Anbu jaromia
    Office equipment that originally cost $67,000 and had accumulated depreciation of $22,500 was sold for $38,600. To calculate cash from operating activities using the direct method, the information provided about the sale of this equipment would need to be considered. Truly Inc. reported net income of $180,000 for the year along with depreciation expense of $40,000, a disposal gain of $12,400, and increases in accounts receivable and accounts payable. This information would be used to adjust net income for non-cash expenses and changes in operating assets and liabilities to calculate cash from operating activities. Amore Inc. had investments with costs and fair market values provided

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    (SOLVED) Office equipment that cost 67 000 had

    accumulated depreciation of 22 500


    Office equipment that cost 67 000 had accumulated depreciation of 22 500 Office equipment
    that cost $67,000 had accumulated depreciation of $22,500 when it sold for $38,600. Using this
    information, indicate the items to be reported on the state- ment of cash flows prepared using
    the direct method. Office equipment […]

    Sales reported on the statement of income were 51 300 The Sales reported on the statement of
    income were $51,300. The accounts receivable balance decreased $4,100 over the year.
    Determine the amount of cash received from customers to be included in the operating section
    under the direct method. Sales reported […]

    Truly Inc reported the following data Net income 18 Truly Inc. reported the following data: Net
    income ………………………………………$180,000 Depreciation expense ……………………………. 40,0
    disposal of equipment ………………….. 12,400 Increase in accounts receivable ………………….. 12,100
    Increase in accounts payable …………………….. 5,900 Prepare the Cash Flows from Operating
    Activities section of […]

    Watson Corporation s statement of financial position data for current assets Watson
    Corporation’s statement of financial position data for current assets and liabili- ties were as
    follows: Adjust net income of $320,000 for changes in operating assets and liabilities to arrive at
    net cash flow from operating activities using the […]

    GET ANSWER- https://accanswer.com/downloads/page/1616/

    Cozy Corporation s accumulated depreciation furniture increased by 5 000 and 1 300 of Cozy
    Corporation’s accumulated depreciation-furniture increased by $5,000, and $1,300 of patents
    were amortized between balance sheet dates. Cozy had no purchases or sales of tangible or
    intangible assets during the year. In addition, the statement of […]

    A long term investment in bonds with a cost of 70 000 A long-term investment in bonds with a
    cost of $70,000 was sold for $84,000 cash. (a) What was the gain or loss on the sale? (b) What
    was the effect of the transaction on cash flows? (c) How […]

    Amore Inc had the following cost and fair market values Amore Inc. had the following cost and
    fair market values for their investments: Instructions 1. Journalize the year-end revaluation
    entries required by Amore Inc. 2. Prepare the relevant current and non-current sections of the
    statement of financial position for Amore […]

    SEE SOLUTION>> https://accanswer.com/downloads/page/1616/

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