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a. Equipment with a book value of $80,000 and an original cost of $160,000 was sold at a loss of $33,000. b. Paid $115,000 cash for a new truck. c. Sold land costing $315,000 for $420,000 cash, yielding a gain of $105,000. d. Long-term investments in stock were sold for $96,300 cash, yielding a gain of $15,500. Use the above information to determine this company's cash flows from investing activities.

a. Equipment with a book value of $80,000 and an original cost of $160,000 was sold at a loss of $33,000. b. Paid $115,000 cash for a new truck. c. Sold land costing $315,000 for $420,000 cash, yielding a gain of $105,000. d. Long-term investments in stock were sold for $96,300 cash, yielding a gain of $15,500. Use the above information to determine this company's cash flows from investing activities.

FINANCIAL ACCOUNTING
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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a. Equipment with a book value of $80,000 and an original cost of $160,000 was sold at a loss of $33,000. b. Paid $115,000 cash for a new truck. c. Sold land costing $315,000 for $420,000 cash, yielding a gain of $105,000. d. Long-term investments in stock were sold for $96,300 cash, yielding a gain of $15,500. Use the above information to determine this company's cash flows from investing activities.
Transcribed Image Text:a. Equipment with a book value of $80,000 and an original cost of $160,000 was sold at a loss of $33,000. b. Paid $115,000 cash for a new truck. c. Sold land costing $315,000 for $420,000 cash, yielding a gain of $105,000. d. Long-term investments in stock were sold for $96,300 cash, yielding a gain of $15,500. Use the above information to determine this company's cash flows from investing activities.
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