Financial Accounting ACG2021 SFCC Fall 2007 Chapter 13 Videos
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Thank you... I've been trying to understand this topic, i thought it was hard but when I watched this video, it all made sense to me.
I must say, I have been reading countless of articles and videos about accounting and you're the only person who has successfully explained the basics of accounting so clearly and well!
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Dear Ms Susan, I want to tell you that the cash i received from selling the investment is 78000 USD not 65000 USD and the entry is Dr, Cash 78000 Dr, Loss of investment 38000 USD and Cr The investments by 116000 USD . Also another question where is the Accumulated depreciation in your journal entry when you sell the investment?
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The slow industry moderates the crush.
The grumpy grain manages the motion.
The judge conducts the blue-eyed person.
If it was a profit, you would have added it right? 78 + 13?
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Thank you very much.
These exercises are from the book Libby right?
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Sup, have you considered this thing called the Intellitus Cash System? (look for it on google). My mom says it makes people tons of cash.
what happens if
plant & equipment with original cost of $85,000 and accumlated depreciation of $25,000
was sold for $76,000 cash during the year
and also i had a gain on sales of pland and equipment in my income statment for $16,000
@vicosu Yeah your right. But companies are complicated, they aren't convenience stores. They have accruals. Which means they have things like accounts receivable, amounts owed to them, and payables, amounts owed to others. The cash flow statement takes the income statement in the accrual form and translates it into what a cash basis income statement would be technically.
im confused if you sell some thing for $78000 is that not actually the cash received. if i sell you a packet of chewing gum for $1 do i not actually receive $1 which represents a cash in flow
i love ur videos it's so helpful .. i think my teacher should learn from u
loved the way it took her a few seconds to figure out how much u get if u subtract 13k from 78k lol