Avatar Company uses the indirect method to prepare its statement of cash flows. During 2014, plant assets with book value of $10,000(cost $10,000 and accumulated depreciation $0) were sold for $14,000. Using the worksheet shown below, enter the adjustments needed to record the sale of plant assets and gain on sale of plant assets of $4,000.

Question

Avatar Company uses the indirect method to prepare its statement of cash flows. During 2014, plant assets with book value of $10,000(cost $10,000 and accumulated depreciation $0) were sold for $14,000. Using the worksheet shown below, enter the adjustments needed to record the sale of plant assets and gain on sale of plant assets of $4,000.
Avatar Company uses the indirect method to prepare its statement of cash flows. During 2014, plant assets with book value of $10,000(cost $10,000 and accumulated depreciation $0) were sold for $14,000. Using the worksheet shown below, enter the adjustments needed to record the sale of plant assets and gain on sale of plant assets of $4,000.

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The Answer of Avatar Company uses the indirect method to prepare its statement of cash flows. During 2014, plant assets with book value of $10,000(cost $10,000 and accumulated depreciation $0) were sold for $14,000. Using the worksheet shown below, enter the adjustments needed to record the sale of plant assets and gain on sale of plant assets of $4,000.

Avatar Company Uses the Indirect Method to Prepare Its Statement