During 2022, Tamarisk, Inc. sold equipment with a book value of $139200 for proceeds of $168200. The company purchased new equipment for $371200 by signing a long-term note payable. No other transactions impacted long-term asset accounts during 2022. The investing section of the statement of cash flows will report

During 2022, Tamarisk, Inc. sold equipment with a book value of $139200 for proceeds of $168200. The company purchased new equipment for $371200 by signing a long-term note payable. No other transactions impacted long-term asset accounts during 2022. The investing section of the statement of cash flows will report

Name: During 2022, Tamarisk, Inc. sold equipment with a book value of $13920
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Description: During 2022, Tamarisk, Inc. sold equipment with a book value of $139200 for proceeds of $168200. The company purchased new equipment for $371200 by signing a long-term note payable. No other transactions impacted long-term asset accounts during 2022.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter23: Statement Of Cash Flows

Section: Chapter Questions

Problem 7SEA

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