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Below is selected information for Ayayai Corporation for December 31. All purchases were paid for with cash. No buildings were sold during the year, but buildings were purchased during the year. Land was sold for cash at a loss of $4,000. Equipment with a cost of $50,000 and accumulated depreciation of $40,000 was sold for cash at a gain of $2,000. No other transactions involving property, plant, and equipment occurred. Land $100,000 150,000 44,000 Equipment 90,000 Accumulated Depreciation Equipment 36,000 2022 Buildings Accumulated Depreciation - Buildings 2021 $200,000 70,000 35.000 140,000 72,800

Below is selected information for Ayayai Corporation for December 31. All purchases were paid for with cash. No buildings were sold during the year, but buildings were purchased during the year. Land was sold for cash at a loss of $4,000. Equipment with a cost of $50,000 and accumulated depreciation of $40,000 was sold for cash at a gain of $2,000. No other transactions involving property, plant, and equipment occurred. Land $100,000 150,000 44,000 Equipment 90,000 Accumulated Depreciation Equipment 36,000 2022 Buildings Accumulated Depreciation - Buildings 2021 $200,000 70,000 35.000 140,000 72,800

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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Below is selected information for Ayayai Corporation for December 31. All purchases were paid for with cash. No buildings were sold during the year, but buildings were purchased during the year. Land was sold for cash at a loss of $4,000. Equipment with a cost of $50,000 and accumulated depreciation of $40,000 was sold for cash at a gain of $2,000. No other transactions involving property. plant, and equipment occurred. Land Buildings Accumulated Depreciation - Buildings Equipment Accumulated Depreciation - Equipment 2022 $100,000 150,000 44,000 90,000 36,000 2021 $200,000 70,000 35,000 140,000 72,800
Transcribed Image Text:Below is selected information for Ayayai Corporation for December 31. All purchases were paid for with cash. No buildings were sold during the year, but buildings were purchased during the year. Land was sold for cash at a loss of $4,000. Equipment with a cost of $50,000 and accumulated depreciation of $40,000 was sold for cash at a gain of $2,000. No other transactions involving property. plant, and equipment occurred. Land Buildings Accumulated Depreciation - Buildings Equipment Accumulated Depreciation - Equipment 2022 $100,000 150,000 44,000 90,000 36,000 2021 $200,000 70,000 35,000 140,000 72,800
Prepare the investing activity section of the statement of cash flows for the year ended December 31, 2022. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis eg. (15,000)) AYAYAI CORPORATION Statement of Cash Flows (partial) For the Year Ended December 31, 2022- Cash flows from investing activities Proceeds from sale of equipment Proceeds from sale of land Purchase of buildings Net cash V 4 $ provided by investing activities S 96000 100000 20000 198000
Transcribed Image Text:Prepare the investing activity section of the statement of cash flows for the year ended December 31, 2022. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis eg. (15,000)) AYAYAI CORPORATION Statement of Cash Flows (partial) For the Year Ended December 31, 2022- Cash flows from investing activities Proceeds from sale of equipment Proceeds from sale of land Purchase of buildings Net cash V 4 $ provided by investing activities S 96000 100000 20000 198000
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