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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Sub :AccountingPls answer very fast.I ll upvote. Thank You Peroni Corporation sold a parcel of land valued at $300,000. Its basis in the land was $250,000. For the land, Peroni received $150,000 in cash in the current year and a note providing Peroni with $150,000 in the subsequent year. What is Peroni's recognized gain in the current and subsequent year, respectively? Group of answer choices $0, $50,000 $10,000, $40,000 $25,000, $25,000 $50,000, $0 None of the choices are correct.
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Additional information (a) The entity sold some tangible non-current assets, which had a net book value of $200 million. The cost of sales figure includes a loss of $10 million on this disposal. (b) Cost of sales is arrived at after charging depreciation on the tangible non-current assets of $42 million. (c) Dividends paid during the year were $55,000. IMPORTANT: if your answer is 100,000 for this question please write 100 and IGNORE 000 while writing answer. If you write answer with 000 it will be marked as incorrect Find cashflow from Operations
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