a. Equipment with a book value of $79,000 and an original cost of $163,000 was sold at a loss of $31,000. b. Paid $103,000 cash for a new truck. c. Sold land costing $325,000 for $410,000 cash, yielding a gain of $85,00. d. Long-term investments in stock were sold for $92,100 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 Cash received from the sale of equipment $ 246,000 Cash paid for new truck 103,000 Cash received from the sale of land 410,000 Cash received from the sale of long-term stock investments 92,100: Net cash provided by financing activities $ 851,100

a. Equipment with a book value of $79,000 and an original cost of $163,000 was sold at a loss of $31,000. b. Paid $103,000 cash for a new truck. c. Sold land costing $325,000 for $410,000 cash, yielding a gain of $85,00. d. Long-term investments in stock were sold for $92,100 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 Cash received from the sale of equipment $ 246,000 Cash paid for new truck 103,000 Cash received from the sale of land 410,000 Cash received from the sale of long-term stock investments 92,100: Net cash provided by financing activities $ 851,100

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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