Disposal of an Operating Asset Jolie Company owns equipment with a cost of $342,500 and accumulated depreciation of $222,625. Required:
Prepare the journal entry to record the disposal of the equipment on April 9 assuming:
1. Jolie sold the equipment for $128,300 cash. If an amount box does not require an entry, leave it blank.
Apr. 9
Accumulated Depreciation Accumulated Depreciation 222,625 Accumulated Depreciation 0 Cash Cash 128,300 Cash 0 Gain on Disposal of Property, Plant, and Equipment Gain on Disposal of Property, Plant, and Equipment 0 Gain on Disposal of Property, Plant, and Equipment 8,425 Equipment Equipment 0 Equipment 342,500
2. Jolie sold the equipment for $75,700 cash. If an amount box does not require an entry, leave it blank.
Apr. 9

both are integral parts of a corporate balance sheet. the cash flow statement, or statement of cash flows, measures the sources of a company's cash and its uses of cash over a specific time period. the income statement measures a company's financial performance, such as revenues, expenses, profits or losses over a specific time period (in fact, it's sometimes called a statement of financial performance).

a cash flow statement shows exactly how much money a company has received and how much it has spent, traditionally over a period of one month. it captures the current operating results and changes on the balance sheet, such as increases or decreases in accounts receivable or accounts payable, and does not include noncash accounting items such as depreciation and amortization. the cash flow generally comes from revenue received as a result of business activity, but it may be augmented by funds available as a result of credit. a cash flow statement is used to determine the short-term viability and liquidity of a company, specifically how well it is positioned to pay its bills and vendors.

c

explanation:

answer: b. false

the staff is a set of five horizontal lines and four spaces which represent a different musical pitch. the lines and the spaces are numbered from bottom to top, the bottom line is the first line and the fifth line is the line on the top. the notes on the top of the staff (fifth line) have a higher pitch than a note at the bottom of the staff.