During the year, Lin Company's equipment account increased from $80,800 to $102,100 as a result of selling old equipment for $2,200 that had cost $8,700 and a book value of $2,800, and from purchasing new equipment for cash. Prepare the investing activities section of the statement of cash flows. (Show amounts that decrease cash flow with either a-sign (e.g., -15,000) or in parenthesis (e.g., (15,000).) Cash flows from investing activities: Net cash by investing activities LA $ LA $
During the year, Lin Company's equipment account increased from $80,800 to $102,100 as a result of selling old equipment for $2,200 that had cost $8,700 and a book value of $2,800, and from purchasing new equipment for cash. Prepare the investing activities section of the statement of cash flows. (Show amounts that decrease cash flow with either a-sign (e.g., -15,000) or in parenthesis (e.g., (15,000).) Cash flows from investing activities: Net cash by investing activities LA $ LA $
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 5RE: In the current year, Harrisburg Corporation had net income of 35,000, a 9,000 decrease in accounts...
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Transcribed Image Text:During the year, Lin Company's equipment account increased from $80,800 to $102,100 as a result of selling old equipment for
$2,200 that had cost $8,700 and a book value of $2,800, and from purchasing new equipment for cash. Prepare the investing
activities section of the statement of cash flows. (Show amounts that decrease cash flow with either a-sign (e.g., -15,000) or in
parenthesis (e.g., (15,000).)
Cash flows from investing activities:
Net cash
by investing activities
LA
$
LA
$
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