CAn u solve it with reason
This query is : Resolved
A D - Loving Life
(Querist)
06 January 2009
If in balance sheet op. balance of machinery is 80,000 & cl. is 55,000 & During year a machine costing Rs. 10,000 with accumulated Rs. 3,000 was sold Rs. 5,000 then what is effect to b taken in cash flow statement?
With reason answers plz?
With reason answers plz?
07 January 2009
OP balance-80000
cl balance-55000
cost of mach sold-10000
acc dep on above-3000
sale price-5000
so current year depreciation is 80000-10000+3000-55000=18000
In Cash Flow Statement, the following shall be reported:
Under operating Activities:
Adj for Dep-18000
Loss on sale of machinery-2000
Under Investing Activities
sale of machinery-5000
shall be considered
cl balance-55000
cost of mach sold-10000
acc dep on above-3000
sale price-5000
so current year depreciation is 80000-10000+3000-55000=18000
In Cash Flow Statement, the following shall be reported:
Under operating Activities:
Adj for Dep-18000
Loss on sale of machinery-2000
Under Investing Activities
sale of machinery-5000
shall be considered
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