FINANCIAL & MANAGERIAL ACCOUNTING (ACCES
9th Edition
ISBN: 9781265484040
Author: Wild
Publisher: MCG
expand_more
expand_more
format_list_bulleted
Question
Chapter 12, Problem 9E
To determine
Introduction: Transactions and income that affects the investments and fixed assets of the organization are known as investing activities. These activities record the inflow and outflow of cash from the investments.
The
Expert Solution & Answer
![Check Mark](/static/check-mark.png)
Want to see the full answer?
Check out a sample textbook solution![Blurred answer](/static/blurred-answer.jpg)
Students have asked these similar questions
Use the following information to determine cash flows from investing activities. a. Equipment with a book value of $65,300 and an original cost of $133,000 was sold at a loss of $14,000. b. Paid $89,000 cash for a new truck. c. Sold land costing $154,000 for $198,000 cash, yielding a gain of $44,000. d. Stock investments were sold for $60,800 cash, yielding a gain of $4,150.
Use the following company information to calculate net cash provided or used by investing activities.
(a) Long-term investments were sold for $51,000 cash, yielding a gain of $22,150.
(b) Paid $72,000 cash for new machinery.
(c) Sold land costing $34,000 for $40,000 cash, yielding a $6,000 gain.
(d) Equipment with a book value of $195,000 and an original cost of $320,000 was sold at a loss of $27,000.
Statement of Cash Flows (partial)
Cash flows from investing activities
Equipment with a book value of $82,000 and an original cost of $164,000 was sold at a loss of $33,000. Paid $112,000 cash for a new truck. Sold land costing $320,000 for $415,000 cash, yielding a gain of $95,000. Stock investments were sold for $94,200 cash, yielding a gain of $14,750. Use the above information to determine cash flows from investing activities. Note: Amounts to be deducted should be indicated with a minus sign
Please answer fast i give you upvote.
Chapter 12 Solutions
FINANCIAL & MANAGERIAL ACCOUNTING (ACCES
Ch. 12 - Prob. 1QSCh. 12 - Prob. 2QSCh. 12 - Prob. 3QSCh. 12 - Prob. 4QSCh. 12 - Prob. 5QSCh. 12 - Prob. 6QSCh. 12 - Prob. 7QSCh. 12 - Prob. 8QSCh. 12 - Prob. 9QSCh. 12 - Prob. 10QS
Ch. 12 - Prob. 11QSCh. 12 - Prob. 12QSCh. 12 - Prob. 13QSCh. 12 - Prob. 14QSCh. 12 - Prob. 15QSCh. 12 - Prob. 16QSCh. 12 - Prob. 17QSCh. 12 - Prob. 18QSCh. 12 - Prob. 19QSCh. 12 - Prob. 20QSCh. 12 - Prob. 21QSCh. 12 - Prob. 22QSCh. 12 - Prob. 23QSCh. 12 - Prob. 24QSCh. 12 - Prob. 25QSCh. 12 - Prob. 26QSCh. 12 - Prob. 27QSCh. 12 - Prob. 28QSCh. 12 - Prob. 1ECh. 12 - Prob. 2ECh. 12 - Prob. 3ECh. 12 - Prob. 4ECh. 12 - Prob. 5ECh. 12 - Prob. 6ECh. 12 - Prob. 7ECh. 12 - Prob. 8ECh. 12 - Prob. 9ECh. 12 - Prob. 10ECh. 12 - Prob. 11ECh. 12 - Prob. 12ECh. 12 - Prob. 13ECh. 12 - Prob. 14ECh. 12 - Prob. 15ECh. 12 - Prob. 16ECh. 12 - Prob. 17ECh. 12 - Prob. 18ECh. 12 - Prob. 19ECh. 12 - Prob. 20ECh. 12 - Prob. 21ECh. 12 - Prob. 22ECh. 12 - Prob. 1PSACh. 12 - Prob. 2PSACh. 12 - Prob. 3PSACh. 12 - Prob. 4PSACh. 12 - Prob. 5PSACh. 12 - Prob. 6PSACh. 12 - Prob. 7PSACh. 12 - Prob. 8PSACh. 12 - Prob. 1PSBCh. 12 - Prob. 2PSBCh. 12 - Prob. 3PSBCh. 12 - Prob. 4PSBCh. 12 - Prob. 5PSBCh. 12 - Prob. 6PSBCh. 12 - Prob. 7PSBCh. 12 - Prob. 8PSBCh. 12 - Prob. 12SPCh. 12 - Prob. 1.1AACh. 12 - Prob. 1.2AACh. 12 - Prob. 1.3AACh. 12 - Prob. 1.4AACh. 12 - Prob. 2.1AACh. 12 - Prob. 2.2AACh. 12 - Prob. 2.3AACh. 12 - Prob. 3.1AACh. 12 - Prob. 3.2AACh. 12 - Prob. 3.3AACh. 12 - Prob. 1DQCh. 12 - Prob. 2DQCh. 12 - Prob. 3DQCh. 12 - Prob. 4DQCh. 12 - Prob. 5DQCh. 12 - Prob. 6DQCh. 12 - Prob. 7DQCh. 12 - Prob. 8DQCh. 12 - Prob. 9DQCh. 12 - Prob. 10DQCh. 12 - Prob. 11DQCh. 12 - Prob. 1BTNCh. 12 - Prob. 2BTNCh. 12 - Prob. 3BTNCh. 12 - Prob. 5BTN
Knowledge Booster
Similar questions
- Thompson Company sold a piece of equipment that had an original cost of 22,000 and a carrying value of 10,000 for 13,000 in cash. How would this information be reported on a statement of cash flows prepared using the indirect method?arrow_forwardIndicate the effect each separate transaction has on investing cash flows. a. Sold a truck costing $40,000, with $22,000 of accumulated depreciation, for $8,000 cash. The sale results in a $10,000 loss. b. Sold a machine costing $10,000, with $8,000 of accumulated depreciation, for $5,000 cash. The sale results in a $3,000 gain. c. Purchased stock investments for $16,000 cash. The purchaser believes the stock is worth at least $30,000.arrow_forwardIf a gain of $30,000 is incurred in selling (for cash) long-term investments having a book value of $180,000, the total amount reported in the cash flows from investing activities section of the statement of cash flows is a. $150,000. b. $180,000. c. $210,000. d. $30,000.arrow_forward
- Subject: acountingarrow_forwardIf a gain of $8,081 is realized in selling (for cash) office equipment having a book value of $62,903, the total amount reported in the cash flows from investing activities section of the statement of cash flows is:arrow_forwardUse the following excerpts from Nutmeg Company's financial records to determine net cash flows from operating activities and net cash flows from investing activities. Net income this year Purchased land this year Sold investments this year Original cost of investments that were sold $83,700 20,000 31,500 33,000 PLEASE NOTE: All whole dollar amounts will be with "$" and commas as needed (i.e. $12,345). Net cash flows from operating activities Net cash flows from investing activitiesarrow_forward
- When preparing the Statement of Cash Flow using the indirect method for the current year, which of the following statements would describe the proper presentation of a decrease in the Investment account of $100,000 which occurred because of the sale of the Investment for cash of $125,000 ( a gain of $25,000)? Group of answer choices Add the $100,000 as Cash received from the sale of investment in the Cash flow from Investing Activities section of the Statement of Cash Flow. Less the $100,000 as Cash paid for the sale of investment in the Cash flow from Investing Activities section of the Statement of Cash Flow. Add the $125,000 as Cash received from the sale of investment in the Cash flow from Investing Activities section of the Statement of Cash Flow. Less the $125,000 as Cash paid for the sale of investment in the Cash flow from Investing Activities section of the Statement of Cash Flow.arrow_forwardPlease help mearrow_forwardPls I need help with this 2 cashflow questions. Find attached Additional information:Equipment which had cost GH¢255, 000 and with a net book value of GH¢ 135,000 and was sold for GH¢96, 000 during the year.The cash proceeds of the sale of asset investments properties amounted to GH¢75,000.Dividends paid during the year amounted to GH¢240,000. Required:Prepare the company’s statement of cash flows for the year ended 31st December 2018, using the indirect method, adopting the format in IAS 7 Statement of cash flows.arrow_forward
- Assume a company’s balance sheet showed beginning and ending balances in the Long-Term Investments account of $1,100,000 and $900,000, respectively. The company sold a long-term investment that cost $300,000 and recorded a gain on this sale of $35,000. Based solely on the information provided, the company’s net cash provided by (used in) investing activities would be: Multiple Choice $200,000. $300,000. $235,000. $335,000.arrow_forwardIf a gain of $8,187 is realized in selling (for cash) office equipment having a book value of $57,511, find the total amount reported in the cash flows from investing activities section of the statement of cash flows. Select the correct answer. $49,324 $57,511 $65,698 $8,187arrow_forwardDetermining Net Cash Flow from Investing Activities Davis Inc. reported the following information: 12/31/2019 12/31/2018 Equipment $ 220,000 $155,000 Accumulated depreciation (135,000) (115,200) Investment (long-term) 20,200 12,000 In addition, Davis sold equipment costing $22,900 with accumulated depreciation of $18,150 for $3,500 cash, producing a $1,250 loss. Davis reported net income for 2019 of $122,350. Required: Compute net cash flow from investing activities. Use a minus sign to indicate negative cash flows (outflows).$arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Cornerstones of Financial AccountingAccountingISBN:9781337690881Author:Jay Rich, Jeff JonesPublisher:Cengage LearningManagerial AccountingAccountingISBN:9781337912020Author:Carl Warren, Ph.d. Cma William B. TaylerPublisher:South-Western College PubIntermediate Accounting: Reporting And AnalysisAccountingISBN:9781337788281Author:James M. Wahlen, Jefferson P. Jones, Donald PagachPublisher:Cengage Learning
- Financial Accounting: The Impact on Decision Make...AccountingISBN:9781305654174Author:Gary A. Porter, Curtis L. NortonPublisher:Cengage LearningManagerial Accounting: The Cornerstone of Busines...AccountingISBN:9781337115773Author:Maryanne M. Mowen, Don R. Hansen, Dan L. HeitgerPublisher:Cengage LearningExcel Applications for Accounting PrinciplesAccountingISBN:9781111581565Author:Gaylord N. SmithPublisher:Cengage Learning
![Text book image](https://www.bartleby.com/isbn_cover_images/9781337690881/9781337690881_smallCoverImage.gif)
Cornerstones of Financial Accounting
Accounting
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Cengage Learning
![Text book image](https://www.bartleby.com/isbn_cover_images/9781337912020/9781337912020_smallCoverImage.jpg)
Managerial Accounting
Accounting
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:South-Western College Pub
![Text book image](https://www.bartleby.com/isbn_cover_images/9781337788281/9781337788281_smallCoverImage.jpg)
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:Cengage Learning
![Text book image](https://www.bartleby.com/isbn_cover_images/9781305654174/9781305654174_smallCoverImage.gif)
Financial Accounting: The Impact on Decision Make...
Accounting
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Cengage Learning
![Text book image](https://www.bartleby.com/isbn_cover_images/9781337115773/9781337115773_smallCoverImage.gif)
Managerial Accounting: The Cornerstone of Busines...
Accounting
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Cengage Learning
![Text book image](https://www.bartleby.com/isbn_cover_images/9781111581565/9781111581565_smallCoverImage.gif)
Excel Applications for Accounting Principles
Accounting
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Cengage Learning