Equipment with a book value of $78,500 and an original cost of $167,000 was sold at a loss of $34,000.Paid $103,000 cash for a new truck.Sold land costing $320,000 for $410,000 cash, yielding a gain of $90,000.Long-term investments in stock were sold for $95,600 cash, yielding a gain of $16,250.Use the above information to determine cash flows from investing activities. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial)Cash flows from investing activities

The cash flow from investing activities portion of the cash flow statement indicates how much money…

Answered: Equipment with a book value of $78,500…

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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Equipment with a book value of $78,500 and an original cost of $167,000 was sold at a loss of $34,000.
Paid $103,000 cash for a new truck.
Sold land costing $320,000 for $410,000 cash, yielding a gain of $90,000.
Long-term investments in stock were sold for $95,600 cash, yielding a gain of $16,250.

Use the above information to determine cash flows from investing activities. (Amounts to be deducted should be indicated with a minus sign.)

Statement of Cash Flows (partial)
Cash flows from investing activities

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