Homework Help is Here – Start Your Trial Now!
Business
Accounting
a. Equipment with a book value of $81,000 and an original cost of $161,000 was sold at a loss of $35,000. b. Paid $103,000 cash for a new truck. c. Sold land costing $325,000 for $430,000 cash, yielding a gain of $105,000. d. Stock investments were sold for $90,700 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 69 $ 17,000 $17,000

a. Equipment with a book value of $81,000 and an original cost of $161,000 was sold at a loss of $35,000. b. Paid $103,000 cash for a new truck. c. Sold land costing $325,000 for $430,000 cash, yielding a gain of $105,000. d. Stock investments were sold for $90,700 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 69 $ 17,000 $17,000

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

Please fill in this chart 

a. Equipment with a book value of $81,000 and an original cost of $161,000 was sold at a loss of $35,000. b. Paid $103,000 cash for a new truck. c. Sold land costing $325,000 for $430,000 cash, yielding a gain of $105,000. d. Stock investments were sold for $90,700 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 69 $ 17,000 $17,000
Transcribed Image Text:a. Equipment with a book value of $81,000 and an original cost of $161,000 was sold at a loss of $35,000. b. Paid $103,000 cash for a new truck. c. Sold land costing $325,000 for $430,000 cash, yielding a gain of $105,000. d. Stock investments were sold for $90,700 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 69 $ 17,000 $17,000
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
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