The information provided below pertains to the operations of Jabba the Hutt's Hot Bog a. Equipment with a book value of $81,000 and an original cost of $161,000 was sold at a loss of $30,000. b. Paid $100,000 cash for a new truck. c. Sold land costing $325,000 for $415,000 cash, yielding a gain of $90,000. d. Long-term investments in stock were sold for $90,700 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.)

The information provided below pertains to the operations of Jabba the Hutt's Hot Bog a. Equipment with a book value of $81,000 and an original cost of $161,000 was sold at a loss of $30,000. b. Paid $100,000 cash for a new truck. c. Sold land costing $325,000 for $415,000 cash, yielding a gain of $90,000. d. Long-term investments in stock were sold for $90,700 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.)

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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