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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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