I\'m having trouble with a cash flow statement currently working on the investme

Question

I'm having trouble with a cash flow statement currently working on the investments, in financial position I have;

ASSETS
Property, Plant & Equipment 2018 - 205,000 and 2019 - 310,000
Accumulated Depreciation, PP&E 2018 - (40,000) and 2019 - (46,500)

In my Profit and Loss Satement;
Gain on sale of plant & equipment 5000

and additional information given;

- PP&E costing 141,000 was purchased for cash during the year
- PP&E costing 36,000 was sold during the year
- other eexpenses include 35,500 dep'n expense on PP&E
- all sales are on credit

How would I find the cash figure using T accounts for this any help wpuld be great, thanks

Explanation / Answer

Ans-

Working Note

1)

2)

Cash Account Debit Credit Sale of asset $ 41,000.00 Expenses ($35,500-6500) $    29,000.00 ($36,000+$5,000) Purchase of Asset $ 141,000.00 Closing Cash Balance    129,000.00

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