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Question ? 2.5 pts During 2013*, Lance Chips sold equipment that had an original cost of $143,0' and accumulated depreciation of $11,, for cash totaling
Question ? 2.5 pts During 2013*, Lance Chips sold equipment that had an original cost of $143,0' and accumulated depreciation of $11,, for cash totaling $25.1]. Which one of the following is one effect of this transaction on the statement of cash flows if the indirect method is used? '13" An addition to net income in the operating activities section for $25, C" An addition to net income of $, in the operating activities section '3" A subtraction of $33,0 in the investing activities section '3" An addition of $B,{} in the investing activities section Question 3 2.5 pts Kingston Jerk Factory reported the following results for 201?: {integer},r December 3 l J a liner}; 1 Property, plant: and equipment $420,000 $405,000 Accumulated depreciation (139,000) (1300002: Net pfPEItF, plant= and equipment $131,000 $125,000 During 201?, the company sold equipment that had an original cost of $30,000 and accumulated depreciation of $31,000 for $13,000. New equipment was purchased for cash during the year. How much gainloss] will Kingston add or subtract from net income when preparing the operating activities section of the statement of cash ows using the indirect method for 201?\"? C! Subtract $5,000 G Add $2,000 C] Subtract $25,000 C] There is not enough information provided to answer this question Question 9 2.5 pts Harnett Enterprises had a net loss of $14,000 in 2017. Dividends of $15,000 were declared and paid during the year and the company reported depreciation expense of $15,000. Changes in the following selected accounts occurred during the year: Category Increase or (Decrease) Accounts receivable ($3,000) Long-term investments 16,000 Interest payable (2,000) Notes payable 65,000 Property, plant, and 42,000 equipment No property, plant, and equipment were sold during the year. How much is the company's net cash provided (used) by investing activities? O $7,000 O $60,000 O $18,000 O ($58,000)
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