During 2022, Pharoah Company sold a building with a book value of $153,500 for proceeds of $183,500. The company also sold long- term investments for proceeds of $40,500. The company purchased land and a new building for $328,500 by signing a long-term note payable. No other transactions impacted long-term asset accounts during 2022. Compute net cash flows from investing activities. Net cash flows from investing $

Q: Classify the Costs for Financial Statements?

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

Q: What are the measure of outputs in accounting?

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Q: what the difference between accounting income and economic income?

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is