How to calculate the gain or loss on sale of plant assets, including the information provided?
assets 2008: 2007 species 21.000 $: 54,000 Land $ 350,000: 300,000 Building (net) $ 680,000: 700,000 Equipment 520,000 $: 340,000 … Depreciation = $ 60,000 … Paid $ 50,000 for land for a site for new facilities … purchased computer terminals for $ 90,000 I'm not sure that the last parts were necessary but I am preparing a statement of cash flows and I can not quite equal right, so I assume that I gain on the sale wrong, please help me. Thank you!
Start EPP Subtract Depreciation 340,000 <60,000> Add a new EPP Add 90,000 Gain / Loss on the sale of assets 150,000 = Ending EPP Gain Since its 520,000 + $ 150,000 (a positive number). The 150, $ 00 is a "plug" figure to give him the sum of all the foregoing, it equals the ending value of about $ 520,000.
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