I'm lost, I am trying to find the amount of cash for disposals and transfers. I have attached the assignment page from the book and the worksheet I have done so far. I'm not sure where I went wrong. Thanks for your help!
The question is what is the amount of cash the company received for disposals and transfers for the current year.
When an asset is disposed of, the transaction is as under
Cash Received - Book Value of the assets = Gain or loss on sale
In the given question, we have to find the cash received.
From the cash flow rom operating ...
The solution explains how to calculate disposals and transfers relating to fixed assets