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On January 11996, ABC Company purchased for $85,000 a machine having a useful life of...

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Accounting

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On January 11996, ABC Company purchased for $85,000 a machine having a useful life of ten years and an ostimated salvage value of 5,000 The machine war depreciated by the straight-line method On 1 July 2001, the machine was sold for $45,000. For the year ended 31 December 2001, how much gain should ABC $0 record on the sale assuming depreciation is charged up to date of sale? Where, if at all, should the revaluation of the non current assets be shown in a cash flow statement? The capital expenditure section. Reconciliation of operating profit to net cush inflow. Financipg section. Nowhere within the cash flow statement

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