Using the selected data below, calculate the net cash provided or (used) by investing activities: Net income $200,000 Depreciation expense = $18,000 Gain on the sale of equipment = $15,000 Cash proceeds on the sale of equipment = $20,000 Purchase of new machinery = $50,000 A) $170,000 B) ($30,000) C) ($15,000) D) ($20,000)

Using the selected data below, calculate the net cash provided or (used) by investing activities: Net income $200,000 Depreciation expense = $18,000 Gain on the sale of equipment = $15,000 Cash proceeds on the sale of equipment = $20,000 Purchase of new machinery = $50,000 A) $170,000 B) ($30,000) C) ($15,000) D) ($20,000)

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 41E: Determining Cash Flows from Investing Activities Burns Companys 2019 and 2018 balance sheets...

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Determining Cash Flows from Investing Activities Burns Companys 2019 and 2018 balance sheets presented the following data for equipment: During 2019, equipment costing $41,000 with accumulated depreciation of $36,700 was sold for cash, producing a $3,200 gain. Required: 1. Calculate the amount of depreciation expense for 2019. 2. Calculate the amount of cash spent for equipment during 2019. 3. Calculate the amount that should be included as a cash inflow from the disposal of equipment.
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