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jacksoneaton
05.06.2020 •
Business
The equipment account had a $36,000 balance at the beginning of the year, and a $30,000 balance at the end of the year. The accumulated depreciation account had a balance of $22,000 at the beginning of the year, and a $17,000 balance at the end of the year. The income statement reported depreciation expense of $4,000 for the year. Equipment costing $10,000 was sold for its book value. Cash received from the sale to be reported in the Investing Activities section is
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Ответ:
$1000
Explanation:
The cash received from the equipment sale is equals to the initial cost of the equipment which is $10,000 minus total accumulated depreciation on the equipment charged till date.
Total accumulated depreciation on the equipment=Opening balance of accumulated depreciation+depreciation charge for the year-closing balance of accumulated depreciation
Total accumulated depreciation on the equipment=$22,000+$4,000-$17,000
=$9,000
cash proceeds=$10,000-$9,000=$1000
Ответ:
Divergent thinking.
Explanation:
Divergent thinking is a thought process or method used to generate creative ideas by exploring many possible solutions. Many possible solutions are explored in a short amount of time, and unexpected connections are drawn.