Question regarding cash flow stmt. - What amounts if any, would appear on the statement of cash flow & where would amount be shown? -- Jan 1,2005 purchased equipment for $15,500. Equipment to remain in service for 5 yrs, with residual value of $1,500. Used theDouble-Declining-Balance Depreciated, sold equipment on June 30, 2007 for $3,500 cash.
2.
The residual value of equipment is nor given. The problem states the item will be fully depreciated when the accumulated Dep. Acct reaches $120,000. Would $120,000 be the residual value?
2.
The residual value of equipment is nor given. The problem states the item will be fully depreciated when the accumulated Dep. Acct reaches $120,000. Would $120,000 be the residual value?