An analysis of the general ledger accounts indicates that office equipment, which cost $245,000 and on which accumulated depreciation totaled $112,500 on the date of sale, was sold for $105,900 during the year. Using this information, indicate the items to be reported on the statement of cash flows. Transactions Section of Statement of Cash Flows Added or Deducted
$245,000 cost of office equipment
$112,500 accumulated depreciation
$105,900 sales price
$26,600 loss on sale of equipment
(assume the indirect method is used)

Answer and Explanation:

The indication of the following items reported on the income statement is presented below:

1. Not applicable as it is not shown on the statement

2.  Not applicable as it is not shown on the statement

3. It is to be added and the same is to be shown in the cash flow from investing activities

4. . It is to be added and the same is to be shown in the cash flow from operating activities

In this way it is to be done

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.