Davis Inc. reported the following information for equipment: In addition, Davis sold equipment costing $12,500 with accumulated
Question:
In addition, Davis sold equipment costing $12,500 with accumulated depreciation of $8,150 for $3,800 cash, producing a $550 loss. Davis reported net income for 2011 of $122,350.
Required:
Compute net cash flow from investing activities.
Transcribed Image Text:
12/31/2011 $160,000 (85,000) 18,610 12/31/2010 Equipment Accumulated depreciation Long-term investment $115,000 (59,000) 10,000
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Cash flow from investing activities Cash paid for equipment57500 Disposal of equipment 3800 ...View the full answer
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Related Book For
Cornerstones of Financial and Managerial Accounting
ISBN: 978-1111879044
2nd edition
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
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