Question - Cash-flow statement
Might River Limited provides the following information about its Property, Plant and Equipment.
Opening balance for PPE $500 000
Closing balance for PPE $650 000
Depreciation expense for the year $50 000
Opening balance of accumulated depreciation $200 000
Closing balance of accumulated depreciation $210 000
Profit on sale of PPE $20 000
Written down value of PPE that was disposed of $90 000
Required: Determine how much cash was received from the disposal of PPE and how much cash was used to acquire PPE throughout the year.