Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
a. Equipment with a book value of $82,500 and an original cost of $163,000 was sold at a loss of $31.000 b. Paid $100,000 cash
a. Equipment with a book value of $82,500 and an original cost of $163,000 was sold at a loss of $31.000 b. Paid $100,000 cash for a new truck c. Sold land costing $325,000 for $410,000 cash. yielding a gain of $85,000 d. Stock investments were sold for $92,300 cash, yielding a gain of $15,500 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 a. Net income was $472,000. b. Issued common stock for $72,000 cash c. Paid cash dividend of $15,000 d. Pald $125,000 cash to settle a long term notes payable at its $125,000 maturity value e. Paid $116,000 cash to acquire its treasury stock. f. Purchased equipment for $91.000 cash. Use the above information to determine cash flows from financing activities (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from financing activities
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/669bfe68aefdb_240669bfe684ae2d.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/669bfe697a37d_241669bfe69196a8.jpg)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started