Homework Help is Here – Start Your Trial Now!
Business
Accounting
a. Equipment with a book value of $81,000 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 $325,000 for $425,000 cash, yielding a gain of $100,000. d. Long-term investments in stock were sold for $94,900 cash, yielding a gain of $14,750. Use the above information to determine cash flows from investing activities. (Amounts to be deducted should minus sign.) indicated with a

a. Equipment with a book value of $81,000 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 $325,000 for $425,000 cash, yielding a gain of $100,000. d. Long-term investments in stock were sold for $94,900 cash, yielding a gain of $14,750. Use the above information to determine cash flows from investing activities. (Amounts to be deducted should minus sign.) indicated with a

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
100%

12 ex 7

 

Exercise 12-9 (Algo) Cash flows from investing activities LO P3 a. Equipment with a book value of $81,000 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 $325,000 for $425,000 cash, yielding a gain of $100,000. d. Long-term investments in stock were sold for $94,900 cash, yielding a gain of $14,750. Use the above information to determine cash flows from investing activities. (Amounts to be deducted should be indicated with a minus sign.) X Answer is not complete. Statement of Cash Flows (partial) Cash flows from investing activities Cash received from the sale of equipment 48,000 O Cash paid for new truck (115,000) O Cash received from the sale of land 425,000 Cash received from the sale of long-term stock investments 94,900 452,900
Transcribed Image Text:Exercise 12-9 (Algo) Cash flows from investing activities LO P3 a. Equipment with a book value of $81,000 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 $325,000 for $425,000 cash, yielding a gain of $100,000. d. Long-term investments in stock were sold for $94,900 cash, yielding a gain of $14,750. Use the above information to determine cash flows from investing activities. (Amounts to be deducted should be indicated with a minus sign.) X Answer is not complete. Statement of Cash Flows (partial) Cash flows from investing activities Cash received from the sale of equipment 48,000 O Cash paid for new truck (115,000) O Cash received from the sale of land 425,000 Cash received from the sale of long-term stock investments 94,900 452,900
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Accounting for Financial Instruments
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS