The Shorestone Company had the following results in 2012: Account Balances End of...
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Accounting
The Shorestone Company had the following results in 2012:
Account Balances
End of Year Beginning of Year
Year Property, plant, and equipment $920,000 $890,000
Accumulated depreciation (305,000) (298,000)
Net Property, plant, and equipment $615,000 $592,000
During the year the company sold an asset which had an original cost of $120,000 and accumulated depreciation of $66,000. How much are purchases of property, plant, and equipment reported on the statement of cash flows for 2012?
$150,000
$30,000
$23,000
$90,000
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