Answer:
1) For the equipment that was sold, determine its original cost, its accumulated depreciation, and the cash received from the sale.
- original cost = $9,800
- accumulated depreciation = $1,020
- cash received = $5,980
2) Sanchez Company uses the indirect method for the Operating Activities section of the cash flow statement. What amount related to the sale would be added or subtracted in the computation of Net Cash Flows from Operating Activities?
- the loss on sale of equipment ($2,800) should be added to the cash flows from operating activities.
3) What amount related to the sale would be added or subtracted in the computation of Net Cash Flows from Investing Activities?
- the cash received ($5,980) should be added to the cash flow from investing activities
Explanation:
equipment cost = beginning equipment - ending equipment = $20,000 - $10,200 = $9,800
equipment's accumulated depreciation = beginning accumulated depreciation + depreciation expense - ending depreciation = $1,950 + $860 - $1,790 = $1,020
book value = $9,800 - $1,020 = $8,780
cash received = book value - loss = $8,780 - $2,800 = $5,980
The answer to this question is Smartphones.
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It's held the capability to do almost any casual technology user do, which pretty much change the course of overall human behavior.
Answer:
The balance in the Paid-in Capital from Treasury Stock account at December 31, 2014 is $36,000
Explanation:
The computation of the balance in the treasury stock account is shown below:
= Number of shares sold × (Selling price of share - purchase price of share)
= 18,000 shares × ($13 per share - $11 per share)
= 18,000 shares × $2 per share
= $36,000
The other items which are mentioned like issued shares, authorized shares are irrelevant because we have to compute for the treasury stock, not for the common stock. So, these parts would be ignored in the computation part.
The purpose why the person use the money is for medium of exchange.
<h3>What is money?</h3>
Money is a legal tender, approved by the government of a country as a means of exchange. Money is used to pay for services received and also for the purchase of goods.
Characteristics of money are:
- Store of value
- Medium of exchange
- Unit of account
Hence, the purpose why the person use the money is for medium of exchange.
Learn more about money here: brainly.com/question/1812645
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