Equipment transaction and cash flow reporting Dec. 31, 19X4 Dec. 31, 19X3 Land $94,000 $94,000 Equipment 652,000 527,000 Less: Accumulated depreciation -316,000 -341,000
a. Determine the cost and accumulated depreciation of the equipment sold during 19X4.
b. Determine the selling price of the equipment sold.
c. Show how the sale of equipment would appear on a statement of cash flows prepared by using the indirect method.