7 Accounting questions

1. In general, sales of long-term assets are cash _____ that are ______ in the investing activities section of the statement of cash flows.

2. In general, acquisitions of long-term assets are cash ______ that are__________ in the investing activities section of the statement of cash flows.

3.

Here is selected financial statement data regarding a company's long-term investments.

Balance Sheet:		Dec. 31, 2018	Dec. 31, 2017
Investments, long-term		$ 77,000	$ 35,000
Income Statement:		2018
Loss on sale of long-term investments		1,000

During the year, the company sold long-term investments for $7,000 cash.

In the statement of cash flows, the investing activities section should show a cash disbursement for "purchases of long-term investments" for $ _______

Here is selected financial statement data regarding a company's long-term investments.

Balance Sheet:		Dec. 31, 2018	Dec. 31, 2017
Investments, long-term		$ 77,000	$ 35,000
Income Statement:		2018
Loss on sale of long-term investments		1,000

During the year, the company sold long-term investments for $7,000 cash.

In the statement of cash flows, the investing activities section should show a cash disbursement for "purchases of long-term investments" for $ __________

4.

Here is selected financial statement data regarding a company's long-term investments.

Balance Sheet:		Dec. 31, 2018	Dec. 31, 2017
Investments, long-term		$ 855,000	$ 940,000
Income Statement:		2018
Gain on sale of long-term investments		72,000

During the year, the company purchased $210,000 of long-term investments.

In the statement of cash flows, the investing activities section should show a cash receipt for "sale of long-term investments" for $____________

5.

Here is selected financial statement data regarding a company's property, plant, and equipment.

Balance Sheet:	Dec. 31, 2018	Dec. 31, 2017
Property, plant, and equipment	$ 1,725,000	$ 1,600,000
Accumulated depreciation	520,000	465,000
Income Statement:	2018
Depreciation expense	$ 90,000
Gain on sale of property, plant, and equipment	6,000

Acquisitions of PPE were $500,000 during the year.

In the statement of cash flows, the investing activities section should show a cash receipt from "sales of property, plant, and equipment" for $______

6.

Here is selected financial statement data regarding a company's property, plant, and equipment.

Balance Sheet:	Dec. 31, 2018	Dec. 31, 2017
Property, plant, and equipment	$ 563,000	$ 294,000
Accumulated depreciation	286,000	237,000
Income Statement:	2018
Depreciation expense	$ 105,000
Gain on sale of property, plant, and equipment	26,000

During the year, PPE with a book value of $23,000 were sold.

In the statement of cash flows, the investing activities section should show a cash disbursement for "purchases of property, plant, and equipment" for $ .__________

7.

Here is selected financial statement data regarding a company's intangible assets.

Balance Sheet:		Dec. 31, 2018	Dec. 31, 2017
Intangible assets, net		$ 633,000	$ 1,460,000
Income Statement:		2018
Amortization expense		$ 375,000
Gain on sale of intangible assets		30,000

During the year, the company sold intangible assets for $600,000 cash.

In the statement of cash flows, the investing activities section should show a cash disbursement for "purchases of intangible assets" for $___________

8.

Here is selected financial statement data regarding a company's intangible assets.

Balance Sheet:		Dec. 31, 2018	Dec. 31, 2017
Intangible assets, net		$ 45,000	$ 51,000
Income Statement:		2018
Amortization expense		$ 8,000
Loss on sale of intangible assets		2,000

During the year, the company purchased $14,000 of intangible assets.

In the statement of cash flows, the investing activities section should show a cash receipt for "sale of intangible assets" for $ _______

9.

Complete this section of the statement of cash flows. Hint: Enter numbers as whole numbers with no decimal points. Negative numbers should start with a negative sign or be in parentheses, e.g. -1,000, (1,000).

Sale of machine		$ 159,000
Sale of investments, long-term		873,000
Purchase of investments, long-term		(88,000)
Net cash investing activities