(Answered) Question - cash-flow statementmight river limited provides

Accounting

Question - Cash-flow statement

Might River Limited provides the following information about its Property, Plant and Equipment.

Opening balance for PPE $500 000

Closing balance for PPE $650 000

Depreciation expense for the year $50 000

Opening balance of accumulated depreciation $200 000

Closing balance of accumulated depreciation $210 000

Profit on sale of PPE $20 000

Written down value of PPE that was disposed of $90 000

Required: Determine how much cash was received from the disposal of PPE and how much cash was used to acquire PPE throughout the year.

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