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a. Equipment with a book value of $80,500 and an original cost of $166,000 was sold at a loss of $34,000. b. Paid $106,000 cash for a new truck. c. Sold land costing $325,000 for $400,000 cash, yielding a gain of $75,000. d. Stock investments were sold for $96,300 cash, yielding a gain of $14,000. 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

a. Equipment with a book value of $80,500 and an original cost of $166,000 was sold at a loss of $34,000. b. Paid $106,000 cash for a new truck. c. Sold land costing $325,000 for $400,000 cash, yielding a gain of $75,000. d. Stock investments were sold for $96,300 cash, yielding a gain of $14,000. 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

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 $80,500 and an original cost of $166,000 was sold at a loss of $34,000. b. Paid $106,000 cash for a new truck. c. Sold land costing $325,000 for $400,000 cash, yielding a gain of $75,000. d. Stock investments were sold for $96,300 cash, yielding a gain of $14,000. 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
Transcribed Image Text:a. Equipment with a book value of $80,500 and an original cost of $166,000 was sold at a loss of $34,000. b. Paid $106,000 cash for a new truck. c. Sold land costing $325,000 for $400,000 cash, yielding a gain of $75,000. d. Stock investments were sold for $96,300 cash, yielding a gain of $14,000. 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
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