a. Equipment with a book value of $84,000 and an original cost of $164,000 was sold at a loss of $36,000. b. Paid $112,000 cash for a new truck. c. Sold land costing $330,000 for $425,000 cash, yielding a gain of $95,000. d. Stock investments were sold for $91,400 cash, yielding a gain of $16,250. 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

a. Equipment with a book value of $84,000 and an original cost of $164,000 was sold at a loss of $36,000. b. Paid $112,000 cash for a new truck. c. Sold land costing $330,000 for $425,000 cash, yielding a gain of $95,000. d. Stock investments were sold for $91,400 cash, yielding a gain of $16,250. 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

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

ChapterMB: Model-building Problems

Section: Chapter Questions

Problem 14M

See similar textbooks

Similar questions

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 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 paid for new truck Cash received from the sale of equipment Cash received from the sale of land Cash received from the sale of stock investments
a. Equipment with a book value of $81,000 and an original cost of $167,000 was sold at a loss of $37,000. b. Paid $115,000 cash for a new truck. c. Sold land costing $325,000 for $415,000 cash, yielding a gain of $90,000. d. Stock investments were sold for $97,000 cash, yielding a gain of $15,500. Use the above information to determine cash flows from investing activities. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from investing activities B F8 수 F9 4 F10 Co
a. Equipment with a book value of $79,000 and an original cost of $167,000 was sold at a loss of $32,000. b. Paid $112,000 cash for a new truck. c. Sold land costing $325,000 for $410,000 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. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from investing activities
A. Sold land costing $315,000 for $400,000 cash, yielding a gain of $85,000. B. Paid $106,000 cash for a new truck. C. Equipment with a book value of $80,500 and an original cost of $165,000 was sold at a loss of $34,000. D. Long-term investments in stock were sold for $94,700 cash, yielding a gain of $15,750. Use the above information to determine this company's cash flows from investing activities.
Assume a company did not purchase any equipment during the year, but it did sell a piece of equipment that had an original cost of $500,000 and accumulated depreciation of $300,000. The gain on the sale was $25,000. Based solely on the information provided, the company’s net cash provided by (used in) investing activities would be: Multiple Choice $200,000. $225,000. $250,000. $275,000.
Equipment with a book value of $80,000 and an original cost of $166,000 was sold at a loss of $37,000. Paid $100,000 cash for a new truck. Sold land costing $320,000 for $420,000 cash, yielding a gain of $100,000. Long-term investments in stock were sold for $94,900 cash, yielding a gain of $14,750. Use the above information to determine this company's cash flows from investing activities. (Amounts to be deducted should be indicated with a minus sign.)
7 a. Equipment with a book value of $79,000 and an original cost of $165,000 was sold at a loss of $33,000. b. Paid $118,000 cash for a new truck c. Sold land costing $315,000, for $405,000 cash, yielding again of $90,000. d. Stock investments were sold for $92.800 cash, yielding a gain of $15,500. Use the above information to determine cash flows from investing activities. (Amounts to be deducted should be indicated with a minus sign.) Statement of CashFiews (partial) e Cash flows from investing activities Cash received from the sale of equipment Cash paid for new truck Cash received from the sale of land
Phelm Corporation sold a piece of equipment for cash and recognized a gain of $5,000. The original cost was $34,000 and the accumulated depreciation just prior to the sale totaled $19,000. What amount will appear in the investing activities section of the statement of cash flows? $20,000 $54,000 $10,000 $15,000
Macey Co. exchanged a piece of equipment that had cost $40,000 (now 75% depreciated) for a truck with a current appraised value of $15,000. Macey Co. gave the other company the piece of equipment and $8,000. Macey Co. should record a. a $3,000 lossb. the truck at $18,000c. a gain of $11,000d. the truck at $23,000
Georgia Peach has the following information regarding the sale of its equipment: Sales price $8,000 Cost $25,000 Accumulated depreciation $19,000 Which of the following statements is true regarding how the above information would be reported on Georgia's statement of cash flows? Group of answer choices Loss on sale of plant asset will be $17,000 Gain on sale of plant asset will be $2,000 Depreciation expense will be $19,000 Cash received from sale of plant asset will be $25,000
An asset which costs $25,000 and has accumulated depreciation of $6,000 is sold for $11,000. What amount of gain or loss will be recognized when the asset is sold? a. A gain of $14,000 b. A loss of $14,000 c. A gain of $8,000 d. A loss of $8,000
33.-Zenith Corporation sells some of its used store fixtures. The acquisition cost of the fixtures is $13,409, and the accumulated depreciation on these fixtures is $7,395 at the time of sale. The fixtures are sold for $3,700. The value of this transaction in the investing section of the statement of cash flows is a.$6,014 b.$2,314 c.$13,409 d.$3,700