Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

a. Equipment with a book value of $79,000 and an original cost of $164,000 was sold at a loss of $32,000. b. Paid $109,000 cash

a. Equipment with a book value of $79,000 and an original cost of $164,000 was sold at a loss of $32,000. b. Paid $109,000 cash for a new truck. c. Sold land costing $325,000 for $405,000 cash, yielding a gain of $80,000. d. Stock investments were sold for $92,100 cash, yielding a gain of $17,000. Use the above information to determine cash flows from investing activities. (Amounts to be deducted should be indicated with a minus sign.) Answer is not complete. Statement of Cash Flows (partial) Cash flows from investing activities Cash paid for new truck Cash received from the sale of land i Cash received from the sale of stock investments Cash received from the sale of equipment 1600 (109,000) 405,000 92,100 (32,000) $ 356.100 a. Equipment with a book value of $79,000 and an original cost of $164,000 was sold at a loss of $32,000. b. Paid $109,000 cash for a new truck. c. Sold land costing $325,000 for $405,000 cash, yielding a gain of $80,000. d. Stock investments were sold for $92,100 cash, yielding a gain of $17,000. Use the above information to determine cash flows from investing activities. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from investing activities Cash paid for new truck S (109,000) Cash received from the sale of land 405,000 Cash received from the sale of stock investments 92,100 Cash received from the sale of equipment (32,000) $ 356,100

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

Was there an effort to involve the appropriate people?

Answered: 1 week ago