Shoemaker Company purchased a machine on January 1, 2009, for $85,000 in cash. On June 30, 2010, Shoemaker sold the machine at a loss of $5,000. Accumulated depreciation as of June 30, 2010, was $21,250.
What is the cash flow shown in the investing section of the statement of cash flows in 2010?
What adjustment is needed to the net income using the indirect method in the operating section of the statement of cash flows in 2010?
Ruchala had $54,900 in its Equipment account at the beginning of 2010. The beginning balance of Accumulated Depreciation—Equipment was $9,000 at that time. During 2010, Ruchala recorded depreciation expense of $23,500 and sold a piece of equipment for $2,500 resulting in a gain of $1,500. At the end of 2010, the Equipment account had a balance of $63,100 and the balance in the Accumulated Depreciation—Equipment account was $14,000.
What was the amount of equipment purchases that Ruchala made during 2010?
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.