Accounting- Investing Activities - Where did these numbers come from?
plant and equipment, net 2013 = 106,000 2012 = 69,000
Other information:
Plant assets with a book valur of £10,000 and original cost of £20,000 were sold for their book value
the answer is:
sale of plant assets : 10,000
purchase of plant and equipment (75,000)
Now I'm confused where -75,000 is coming from?
I keep getting -37,000
What am I doing wrong?
If needed:
not payable(due in 10 years) 2013= 20,000 1012 = 20,000
depreciation expense = 28,000 (ive already put this on my operating cashflow)
thanks very much!
