a. Equipment with a book value of $80,500 and an original cost of $166,000 was sold at a loss of $31,000. b. Paid $118,000 cash for a new truck. c. Sold land costing $315,000 for $405,000 cash, yielding a gain of $90,000. d. Stock investments were sold for $92,800 cash, yielding a gain of $16,250. 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 Cash received from the sale of land Cash received from the sale of equipment Cash received from the sale of stock investments Cash paid for new truck Net cash provided by investing activities $ $ 405,000 49,500 (118,000) 336,500

a. Equipment with a book value of $80,500 and an original cost of $166,000 was sold at a loss of $31,000. b. Paid $118,000 cash for a new truck. c. Sold land costing $315,000 for $405,000 cash, yielding a gain of $90,000. d. Stock investments were sold for $92,800 cash, yielding a gain of $16,250. 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 Cash received from the sale of land Cash received from the sale of equipment Cash received from the sale of stock investments Cash paid for new truck Net cash provided by investing activities $ $ 405,000 49,500 (118,000) 336,500

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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