a. Equipment with a book value of $81,000 and an original cost of $163,000 was sold at a loss of $31,000. b. Paid $115,000 cash for a new truck. c. Sold land costing $315,000 for $410,000 cash, yielding a gain of $95,000. d. Stock investments were sold for $90,000 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 equipment Cash paid for new truck Cash received from the sale of land Cash received from the sale of stock investments Net cash provided by investing activities $ 115,000 115,000
a. Equipment with a book value of $81,000 and an original cost of $163,000 was sold at a loss of $31,000. b. Paid $115,000 cash for a new truck. c. Sold land costing $315,000 for $410,000 cash, yielding a gain of $95,000. d. Stock investments were sold for $90,000 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 equipment Cash paid for new truck Cash received from the sale of land Cash received from the sale of stock investments Net cash provided by investing activities $ 115,000 115,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:a. Equipment with a book value of $81,000 and an original cost of $163,000 was sold at a loss of $31,000.
b. Paid $115,000 cash for a new truck.
c. Sold land costing $315,000 for $410,000 cash, yielding a gain of $95,000.
d. Stock investments were sold for $90,000 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 equipment
Cash paid for new truck
Cash received from the sale of land
Cash received from the sale of stock investments
Net cash provided by investing activities
$
115,000
115,000
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