Question
A company sells equipment for $15,000 cash. The equipment had an original cost of $40,000 and accumulated depreciation of $28,000, resulting in a gain on sale of $3,000 ($15,000 cash proceeds – $12,000 net book value). How are these amounts reported in the Cash Flow Statement under the indirect method?
More Accounts Questions
- XYZ Ltd. purchases raw materials for ₹5,00,000 and pays transportation charges of ₹50,000 and GST of ₹90,000. The GST is recoverable. What amount should be...
- The financial statements of the company are approved by ____________ before signed by the chairperson/MD/CEO/directors of the company.
- A company sets a standard cost of ₹50 per unit. Actual cost was ₹55 per unit for 1,000 units. The material price variance was ₹3,000 (A) and usage variance...
- Who will notify the rate of tax to be levied under CGST Act?
- Which ICDS deals with Accounting Policies?
- The balance in the reconstruction account is utilized for:
- The Reserve Bank of India has made the implementation of the Risk-Based Internal Audit (RBIA) framework compulsory for which of the following institutions?
- According to GST Laws, from 1 August 2023, the e-invoicing is mandatory for businesses with annual aggregate turnover of over _______ in any previous finan...
- Which of the following is a key determinant of a firm's dividend policy?
- According to the Companies Act, 2013, every listed company must constitute an Audit Committee. Which of the following is not a role of this committee?
Hey! Ask a query
Please enter email id
The email must be a valid email address.
Please enter Mobile Number
Please enter valid Mobile Number
Please enter your Doubt
Think You're Ready for RBI Grade B?
RBI Grade B 2026 Phase 1 Memory Based Paper
- 200 Questions with Detailed Solutions
- Section-wise Coverage (GA, English, Quant & Reasoning)