Question
Equipment with a book value of $83,000 and an original cost of $165,000 was sold at a loss of $35,000. b. Paid $100,000 cash
Equipment with a book value of $83,000 and an original cost of $165,000 was sold at a loss of $35,000. b. Paid $100,000 cash for a new truck. c. Sold land costing $310,000 for $425,000 cash, yielding a gain of $115,000. d. Stock investments were sold for $94,900 cash, yielding a gain of $15,500. Use the above information to determine cash flows from investing activities. Note: Amounts to be deducted should be indicated with a minus sign. Statement of Cash Flows (partial) Cash flows from investing activities
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Federal Taxation 2018 Corporations, Partnerships, Estates & Trusts
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
31st Edition
134550923, 134550927, 978-0134550923
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