:Use the following company information to calculate net cash provided or used by investing activities Equipment with a book value of $131,250 and an original cost of $225,000 was sold at a loss of $12,750 (1) .Paid $46,500 cash for a new truck (2) Sold land costing $24,000 for $27,000 cash, realizing a $3,000 gain (3) .Purchased treasury stock for $45,750 cash (4) .Long-term investments in stock are sold for $30,750 cash, realizing a gain of $2,625 (5) .cash provided by investing activities $84,000 A .cash used in investing activities $129,750.B .cash used in investing activities $84,000.C .cash provided by investing activities $129,750.D

:Use the following company information to calculate net cash provided or used by investing activities Equipment with a book value of $131,250 and an original cost of $225,000 was sold at a loss of $12,750 (1) .Paid $46,500 cash for a new truck (2) Sold land costing $24,000 for $27,000 cash, realizing a $3,000 gain (3) .Purchased treasury stock for $45,750 cash (4) .Long-term investments in stock are sold for $30,750 cash, realizing a gain of $2,625 (5) .cash provided by investing activities $84,000 A .cash used in investing activities $129,750.B .cash used in investing activities $84,000.C .cash provided by investing activities $129,750.D

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 55PSA

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