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The following information pertains to Peak Heights Company: Required: Present the operating activities section of the statement of cash flows for Peak Heights Company using

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The following information pertains to Peak Heights Company: Required: Present the operating activities section of the statement of cash flows for Peak Heights Company using the indirect method. Note: List cash outflows as negative amounts. During the period, Sanchez Company sold some excess equipment at a loss. The following information was collected from the company's accounting records: No new equipment was bought during the period. Required: 1. For the equipment that was sold, determine its original cost, its accumulated depreciation, and the cash recelved from the sale. (Use the equipment and accumulated depreciation T-accounts to infer the book value of the equipment sold.) 2. Sanchez Company uses the indirect method for the Operating Activities section of the cash flow statement. What amount related to the sale would be added or subtracted in the computation of Net Cash Flows from Operating Activities? 3. What amount related to the sale would be added or subtracted in the computation of Net Cash Flows from Investing Activities? Complete this question by entering your answers in the tabs below. For the equlpment that was sold, determine its original cost, its accumulated depreciation, and the cash recelved from the sale. (Use the equipment and accumulated depreciation T-accounts to infer the book value of the equipment sold.) 1. For the equipment that was sold, determine its original cost, its accumulated depreciation, and the cash received from the sale the equipment and accumulated depreciation T-accounts to infer the book value of the equipment sold.) 2. Sanchez Company uses the indirect method for the Operating Activities section of the cash flow statement. What amount relate the sale would be added or subtracted in the computation of Net Cash Flows from Operating Activities? 3. What amount related to the sale would be added or subtracted in the computation of Net Cash Flows from Investing Activities? Complete this question by entering your answers in the tabs below. Sanchez Company uses the indirect method for the Operating Activities section of the cash flow statement. What amount related to the sale would be added or subtracted in the computation of Net Cash Flows from Operating Activities? 1. For the equipment that was sold, determine its original cost, its accumulated depreciation, and the cash received from the sale. (Use the equipment and accumulated depreciation T-accounts to infer the book value of the equipment sold.) 2. Sanchez Company uses the indirect method for the Operating Activities section of the cash flow statement. What amount related to the sale would be added or subtracted in the computation of Net Cash Flows from Operating Activities? 3. What amount related to the sale would be added or subtracted in the computation of Net Cash Flows from investing Activities? Complete this question by entering your answers in the tabs below. What amount related to the sale would be added or subtracted in the computation of Net Cash Flows from Investing Activities

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