a. Equipment with a book value of $82,500 and an original cost of $164,000 was sold at a loss of $35,000.b. Paid $109,000 cash for a new truck.c. Sold land costing $330,000 for $415,000 cash, yielding a gain of $85,000.d. Stock investments were sold for $90,700 cash, yielding a gain of $15,500.Use the above information to determine cash flows from investing activities.Note: Amounts to be deducted should be indicated with a minus sign.Statement of Cash Flows (partial)Cash flows from investing activities

Cash flow from investing activities is the one which is prepared by the entity to report the inflows…

Answered: Use the above information to determine…

Use the above information to determine cash flows from investing activities. Note: Amounts to be deducted should be indicated with a minus sign. Statement of Cash Flows (partial)

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter12: The Statement Of Cash Flows

Section: Chapter Questions

Problem 12.23MCE

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Question

a. Equipment with a book value of $82,500 and an original cost of $164,000 was sold at a loss of $35,000.
b. Paid $109,000 cash for a new truck.
c. Sold land costing $330,000 for $415,000 cash, yielding a gain of $85,000.
d. Stock investments were sold for $90,700 cash, yielding a gain of $15,500.
Use the above information to determine cash flows from investing activities.
Note: Amounts to be deducted should be indicated with a minus sign.
Statement of Cash Flows (partial)
Cash flows from investing activities

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